Energy Transfer Sees Unusually High Options Volume (NYSE:ET)

Energy Transfer LP (NYSE:ET) saw some unusual options trading activity on Friday. Investors purchased 76,347 call options on the stock. This is an increase of approximately 97% compared to the typical volume of 38,676 call options.

Energy Transfer Price Performance

Shares of ET opened at $16.41 on Friday. 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 company’s fifty day simple moving average is $16.11 and its 200 day simple moving average is $15.95. Energy Transfer has a 1-year low of $12.90 and a 1-year high of $16.64. The company has a market cap of $55.30 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, research analysts forecast that Energy Transfer 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. Shareholders of record on Friday, August 9th were paid a $0.32 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 annualized dividend and a yield of 7.80%. Energy Transfer’s dividend payout ratio is currently 117.43%.

Insider Activity

In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the acquisition, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the purchase, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 3,040,000 shares of company stock valued at $47,667,200 in the last quarter. Company insiders own 3.28% of the company’s stock.

Institutional Trading of Energy Transfer

A number of hedge funds have recently made changes to their positions in the business. LRI Investments LLC acquired a new stake in Energy Transfer during the 1st quarter valued at $29,000. HWG Holdings LP bought a new stake in shares of Energy Transfer during the 2nd quarter worth about $33,000. Sugarloaf Wealth Management LLC boosted its holdings in shares of Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after buying an additional 750 shares during the period. EdgeRock Capital LLC acquired a new position in Energy Transfer in the 2nd quarter valued at about $42,000. Finally, Hudson Edge Investment Partners Inc. bought a new position in Energy Transfer in the 2nd quarter valued at about $42,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday. UBS Group increased their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Bank of America initiated coverage on shares of Energy Transfer in a research note on Thursday. They issued a “buy” rating and a $20.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $20.00.

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.