Stock Traders Buy High Volume of Call Options on Energy Transfer (NYSE:ET)

Energy Transfer LP (NYSE:ET) was the recipient of unusually large options trading activity on Thursday. Traders acquired 890,421 call options on the company. This is an increase of approximately 826% compared to the typical volume of 96,205 call options.

Energy Transfer Stock Performance

NYSE ET opened at $19.92 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The business’s 50 day moving average is $19.71 and its two-hundred day moving average is $17.61. The stock has a market capitalization of $68.19 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 0.54 and a beta of 1.69. Energy Transfer has a 12-month low of $13.80 and a 12-month high of $21.45.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. Research analysts expect that Energy Transfer will post 1.36 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.53%. The ex-dividend date of this dividend is Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Institutional Trading of Energy Transfer

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new position in Energy Transfer in the fourth quarter valued at about $29,000. Princeton Global Asset Management LLC increased its stake in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. raised its holdings in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the last quarter. United Community Bank purchased a new stake in Energy Transfer during the fourth quarter worth $35,000. Finally, Financial Life Planners acquired a new stake in Energy Transfer in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Barclays lifted their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Wells Fargo & Company lifted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group increased their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.82.

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.