Energy Transfer (NYSE:ET) Sets New 1-Year High – Here’s Why

Shares of Energy Transfer LP (NYSE:ET) hit a new 52-week high on Tuesday . The company traded as high as $16.68 and last traded at $16.66, with a volume of 230640 shares trading hands. The stock had previously closed at $16.51.

Analysts Set New Price Targets

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

Energy Transfer Trading Up 2.1 %

The business has a fifty day moving average price of $16.20 and a two-hundred day moving average price of $16.01. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $57.70 billion, a PE ratio of 14.11, a PEG ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business 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 firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. Analysts expect that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently announced 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 7.65%. The ex-dividend date is Friday, November 8th. Energy Transfer’s payout ratio is currently 107.56%.

Insiders Place Their Bets

In other news, EVP Gregory G. Mcilwain acquired 20,000 shares of Energy Transfer stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the executive vice president now owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the purchase, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kelcy L. Warren purchased 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 completion of the acquisition, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 3,040,000 shares of company stock valued at $47,667,200. Corporate insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ET. Berkley W R Corp lifted its holdings in Energy Transfer by 11.6% in the 1st quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock worth $83,912,000 after purchasing an additional 555,445 shares during the last quarter. GFS Advisors LLC increased its position in Energy Transfer by 19,380.5% in the 3rd quarter. GFS Advisors LLC now owns 60,000 shares of the pipeline company’s stock worth $963,000 after buying an additional 59,692 shares during the period. Cetera Investment Advisers boosted its position in shares of Energy Transfer by 491.3% in the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock valued at $20,297,000 after acquiring an additional 1,072,144 shares during the period. International Assets Investment Management LLC grew its stake in shares of Energy Transfer by 1,491.0% in the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after acquiring an additional 3,913,266 shares during the last quarter. Finally, Chickasaw Capital Management LLC lifted its position in shares of Energy Transfer by 3.1% in the 3rd quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock worth $246,376,000 after acquiring an additional 466,565 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

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.