Energy Transfer (NYSE:ET) Trading 0.6% Higher – What’s Next?

Energy Transfer LP (NYSE:ET) was up 0.6% during mid-day trading on Friday . The stock traded as high as $17.27 and last traded at $17.25. Approximately 4,205,698 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 13,318,466 shares. The stock had previously closed at $17.15.

Wall Street Analysts Forecast Growth

ET has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. UBS Group boosted their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Bank of America started coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $20.00.

Energy Transfer Stock Up 0.8 %

The company has a 50-day moving average of $16.42 and a two-hundred day moving average of $16.09. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $59.20 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 0.52 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 EPS for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share. On average, research analysts predict that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be paid a $0.3225 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 7.46%. Energy Transfer’s payout ratio is currently 94.85%.

Insider Activity at Energy Transfer

In other 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 bought 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. This trade represents a 3.50 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nicolet Advisory Services LLC lifted its holdings in shares of Energy Transfer by 48.8% during the first quarter. Nicolet Advisory Services LLC now owns 17,464 shares of the pipeline company’s stock valued at $275,000 after purchasing an additional 5,730 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Energy Transfer by 29.8% during the 1st quarter. Osaic Holdings Inc. now owns 3,653,456 shares of the pipeline company’s stock valued at $57,469,000 after acquiring an additional 838,834 shares during the last quarter. Rockport Wealth LLC bought a new stake in shares of Energy Transfer in the first quarter worth approximately $890,000. Texas Capital Bank Wealth Management Services Inc raised its holdings in shares of Energy Transfer by 1.0% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 478,922 shares of the pipeline company’s stock valued at $7,533,000 after purchasing an additional 4,780 shares during the last quarter. Finally, Lake Street Advisors Group LLC purchased a new position in shares of Energy Transfer during the first quarter valued at approximately $390,000. Institutional investors own 38.22% of the company’s stock.

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.