Energy Transfer (NYSE:ET) Trading Up 0.2% – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s stock price traded up 0.2% on Wednesday . The company traded as high as $16.44 and last traded at $16.42. 2,241,739 shares traded hands during trading, a decline of 83% from the average session volume of 12,975,729 shares. The stock had previously closed at $16.38.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. UBS Group lifted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Royal Bank of Canada increased their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Energy Transfer presently has an average rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Price Performance

The firm’s 50-day moving average price is $16.17 and its 200-day moving average price is $15.98. The stock has a market capitalization of $55.44 billion, a PE ratio of 15.06, a PEG ratio of 0.49 and a beta of 1.66. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. On average, equities analysts forecast that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be given a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 7.84%. The ex-dividend date of this dividend is Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 117.43%.

Insider Activity

In other news, CEO Thomas E. Long bought 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Thomas E. Long bought 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’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 completion of the purchase, the director now directly owns 123,385,650 shares in the company, valued at $1,934,686,992. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 3,040,000 shares of company stock valued at $47,667,200 in the last quarter. 3.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Energy Transfer

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Catalyst Capital Advisors LLC raised its holdings in shares of Energy Transfer by 7.5% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,834,036 shares of the pipeline company’s stock worth $29,436,000 after acquiring an additional 128,053 shares during the period. PDS Planning Inc purchased a new position in Energy Transfer during the third quarter worth about $383,000. TKG Advisors LLC acquired a new position in Energy Transfer in the 3rd quarter valued at about $178,000. Cohen Capital Management Inc. grew its stake in shares of Energy Transfer by 5.0% in the 3rd quarter. Cohen Capital Management Inc. now owns 329,304 shares of the pipeline company’s stock valued at $5,285,000 after buying an additional 15,711 shares during the period. Finally, Old North State Wealth Management LLC increased its holdings in shares of Energy Transfer by 2.5% during the 3rd quarter. Old North State Wealth Management LLC now owns 297,551 shares of the pipeline company’s stock worth $4,776,000 after buying an additional 7,295 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.