Energy Transfer (NYSE:ET) Stock Price Up 0.9% Following Analyst Upgrade

Shares of Energy Transfer LP (NYSE:ET) rose 0.9% on Thursday after UBS Group raised their price target on the stock from $22.00 to $23.00. UBS Group currently has a buy rating on the stock. Energy Transfer traded as high as $16.30 and last traded at $16.25. Approximately 3,090,749 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 13,308,549 shares. The stock had previously closed at $16.11.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Mizuho increased their target price on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Finally, Morgan Stanley boosted their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $19.14.

Insider Activity at Energy Transfer

In related news, Director Kelcy L. Warren acquired 3,000,000 shares of the business’s stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is available at this link. In other Energy Transfer news, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now directly 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 three months, insiders have purchased 3,040,000 shares of company stock worth $47,667,200. Corporate insiders own 3.28% of the company’s stock.

Institutional Trading of Energy Transfer

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Reserve GP XIII Ltd purchased a new stake in Energy Transfer in the 4th quarter worth $322,097,000. Tortoise Capital Advisors L.L.C. lifted its position in shares of Energy Transfer by 12.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after buying an additional 4,141,715 shares in the last quarter. Natixis boosted its stake in Energy Transfer by 20.0% during the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after buying an additional 2,999,300 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Energy Transfer by 117.3% during the 4th quarter. Allianz Asset Management GmbH now owns 3,867,998 shares of the pipeline company’s stock valued at $53,378,000 after buying an additional 2,088,356 shares in the last quarter. Finally, Crestline Management LP bought a new stake in Energy Transfer in the 4th quarter worth approximately $27,600,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.2 %

The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The firm has a market capitalization of $54.58 billion, a PE ratio of 14.86, a PEG ratio of 0.46 and a beta of 1.66. The company has a fifty day moving average price of $16.06 and a 200-day moving average price of $15.82.

Energy Transfer (NYSE:ET) last released its quarterly earnings results 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 net margin of 5.19% and a return on equity of 12.74%. The business had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. During the same period in the previous year, the company earned $0.25 EPS. Energy Transfer’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, analysts expect that Energy Transfer LP will post 1.4 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a $0.32 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.90%. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

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.