Energy Transfer (NYSE:ET) Trading Up 0.1%

Shares of Energy Transfer LP (NYSE:ET) were up 0.1% during mid-day trading on Tuesday . The stock traded as high as $16.16 and last traded at $16.07. Approximately 2,835,696 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 13,208,729 shares. The stock had previously closed at $16.05.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Morgan Stanley upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Mizuho increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Finally, UBS Group increased their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.14.

Energy Transfer Stock Up 0.1 %

The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The company has a market cap of $54.16 billion, a PE ratio of 14.74, a P/E/G ratio of 0.50 and a beta of 1.66. The stock has a 50-day moving average of $16.03 and a 200-day moving average of $15.88.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. During the same quarter last year, the business posted $0.25 EPS. The company’s quarterly revenue was up 13.1% on a year-over-year basis. Sell-side analysts predict that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.97%. The ex-dividend date was Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

Insider Buying and Selling

In other news, CEO Thomas E. Long bought 20,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Thomas E. Long bought 20,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kelcy L. Warren bought 3,000,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 3,040,000 shares of company stock worth $47,667,200. Corporate insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ET. LRI Investments LLC bought a new stake in shares of Energy Transfer in the first quarter worth about $29,000. HWG Holdings LP bought a new stake in shares of Energy Transfer in the second quarter worth about $33,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Energy Transfer in the fourth quarter worth about $34,000. Hudson Edge Investment Partners Inc. bought a new stake in shares of Energy Transfer in the second quarter worth about $42,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Energy Transfer in the second quarter worth about $42,000. 38.22% of the stock is owned by 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.