Energy Transfer (NYSE:ET) Trading Up 0.5% on Analyst Upgrade

Energy Transfer LP (NYSE:ET)’s share price was up 0.5% during trading on Thursday after Royal Bank of Canada raised their price target on the stock from $19.00 to $20.00. Royal Bank of Canada currently has an outperform rating on the stock. Energy Transfer traded as high as $16.50 and last traded at $16.49. Approximately 2,798,664 shares traded hands during trading, a decline of 79% from the average daily volume of 13,091,479 shares. The stock had previously closed at $16.40.

A number of other research analysts also recently weighed in on ET. JPMorgan Chase & Co. raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Mizuho lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, UBS Group upped their price objective 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. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Energy Transfer currently has a consensus rating of “Buy” and a consensus target price of $20.00.

Insider Activity

In related news, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the acquisition, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently bought and sold shares of ET. Rehmann Capital Advisory Group grew its stake in shares of Energy Transfer by 2.0% in the 1st quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock valued at $505,000 after purchasing an additional 633 shares during the period. Veracity Capital LLC raised its stake in Energy Transfer by 2.0% during the second quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock worth $545,000 after acquiring an additional 659 shares in the last quarter. Sfmg LLC lifted its holdings in shares of Energy Transfer by 2.2% during the first quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock valued at $494,000 after acquiring an additional 674 shares during the period. Morton Capital Management LLC CA boosted its stake in shares of Energy Transfer by 1.6% in the 2nd quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock valued at $720,000 after purchasing an additional 699 shares in the last quarter. Finally, FinTrust Capital Advisors LLC grew its holdings in shares of Energy Transfer by 3.6% in the 1st quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock worth $318,000 after purchasing an additional 700 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.5 %

The firm has a market cap of $55.57 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 0.50 and a beta of 1.66. The business’s 50-day moving average is $16.09 and its 200-day moving average is $15.94. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14.

Energy Transfer (NYSE:ET) last posted 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 business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. On average, equities analysts predict that Energy Transfer LP will post 1.35 EPS for the current 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. The ex-dividend date was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a yield of 7.76%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 117.43%.

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.