Energy Transfer (NYSE:ET) Stock Price Up 0.4%

Energy Transfer LP (NYSE:ET)’s share price was up 0.4% on Friday . The company traded as high as $16.00 and last traded at $15.99. Approximately 2,006,827 shares were traded during trading, a decline of 85% from the average daily volume of 13,254,232 shares. The stock had previously closed at $15.92.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ET shares. JPMorgan Chase & Co. increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. UBS Group increased their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Morgan Stanley increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Finally, Mizuho increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.14.

Energy Transfer Trading Up 0.4 %

The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $53.89 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 0.50 and a beta of 1.66. The firm has a 50-day moving average of $16.04 and a 200 day moving average of $15.85.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 earnings per share. As a group, equities analysts predict that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a dividend of $0.32 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a yield of 8.01%. The ex-dividend date was Friday, August 9th. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

Insider Buying and Selling at Energy Transfer

In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Kelcy L. Warren acquired 3,000,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is owned by corporate insiders.

Institutional Trading of Energy Transfer

Hedge funds have recently modified their holdings of the business. LRI Investments LLC purchased a new stake in shares of Energy Transfer in the first quarter valued at $29,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer during the second quarter worth $33,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Energy Transfer during the fourth quarter worth $34,000. Adirondack Trust Co. purchased a new stake in shares of Energy Transfer during the fourth quarter worth $42,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of Energy Transfer during the second quarter worth $42,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Company Profile

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.