Energy Transfer Target of Unusually High Options Trading (NYSE:ET)

Energy Transfer LP (NYSE:ET) was the target of some unusual options trading activity on Wednesday. Investors bought 208,005 call options on the company. This is an increase of 177% compared to the typical volume of 75,152 call options.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. Royal Bank of Canada upped their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, UBS Group raised their price target on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $20.00.

Energy Transfer Trading Up 4.0 %

Shares of ET opened at $19.02 on Friday. Energy Transfer has a fifty-two week low of $13.11 and a fifty-two week high of $19.07. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The company’s fifty day moving average is $16.61 and its 200 day moving average is $16.16. The stock has a market capitalization of $65.12 billion, a PE ratio of 13.99, a P/E/G ratio of 0.55 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the company earned $0.31 EPS. Sell-side analysts expect that Energy Transfer will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.78%. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Hedge Funds Weigh In On Energy Transfer

Institutional investors have recently modified their holdings of the stock. Princeton Global Asset Management LLC increased its holdings in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the period. Assetmark Inc. increased its holdings in shares of Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares during the period. LRI Investments LLC bought a new position in shares of Energy Transfer in the 1st quarter worth $29,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer during the 2nd quarter worth $33,000. Finally, Sugarloaf Wealth Management LLC boosted its position in Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

About Energy Transfer

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.