Energy Transfer (NYSE:ET) Posts Earnings Results

Energy Transfer (NYSE:ET) issued its quarterly earnings data on Wednesday. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32, Briefing.com reports. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 EPS.

Energy Transfer Stock Performance

Shares of ET stock traded down $0.03 during trading hours on Thursday, reaching $17.39. 27,824,099 shares of the company’s stock were exchanged, compared to its average volume of 13,212,654. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The company’s 50 day moving average is $16.25 and its two-hundred day moving average is $16.03. The company has a market cap of $59.51 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. Energy Transfer has a 1 year low of $13.01 and a 1 year high of $17.71.

Energy Transfer Cuts Dividend

The business 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 $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 7.42%. The ex-dividend date is Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 107.56%.

Insider Activity at Energy Transfer

In related news, CEO Thomas E. Long purchased 20,000 shares of the business’s 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 $313,600.00. Following the acquisition, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Thomas E. Long purchased 20,000 shares of the stock in a transaction that occurred on 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 acquisition, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kelcy L. Warren bought 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased 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 owns 123,385,650 shares of the company’s stock, 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 have acquired a total of 3,040,000 shares of company stock worth $47,667,200 over the last three months. 3.28% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ET. Bank of America initiated coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. UBS Group raised their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Royal Bank of Canada boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $20.00.

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.