Richard D. Brannon Buys 44,000 Shares of Energy Transfer LP (NYSE:ET) Stock

Energy Transfer LP (NYSE:ET) Director Richard D. Brannon bought 44,000 shares of the business’s stock in a transaction that occurred on Friday, September 17th. The stock was acquired at an average cost of $9.18 per share, with a total value of $403,920.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

NYSE:ET opened at $8.85 on Wednesday. Energy Transfer LP has a twelve month low of $4.98 and a twelve month high of $11.55. The company has a market cap of $23.94 billion, a price-to-earnings ratio of 6.76 and a beta of 2.50. The stock has a fifty day simple moving average of $9.47 and a 200-day simple moving average of $9.39. The company has a current ratio of 0.96, a quick ratio of 0.77 and a debt-to-equity ratio of 1.54.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, August 3rd. The pipeline company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.06). Energy Transfer had a return on equity of 16.03% and a net margin of 6.99%. The business had revenue of $15.10 billion for the quarter, compared to the consensus estimate of $15.54 billion. As a group, equities research analysts predict that Energy Transfer LP will post 1.72 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 19th. Investors of record on Friday, August 6th were issued a $0.1525 dividend. The ex-dividend date was Thursday, August 5th. This represents a $0.61 annualized dividend and a dividend yield of 6.89%. Energy Transfer’s payout ratio is currently -338.89%.

ET has been the subject of a number of recent research reports. Citigroup raised their target price on shares of Energy Transfer from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, September 14th. Wolfe Research raised shares of Energy Transfer from a “peer perform” rating to an “outperform” rating and raised their target price for the company from $12.00 to $13.00 in a report on Friday, July 16th. Zacks Investment Research downgraded Energy Transfer from a “buy” rating to a “hold” rating in a research report on Friday, August 6th. Raymond James raised their price target on Energy Transfer from $12.00 to $13.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 21st. Finally, Tudor Pickering upgraded Energy Transfer from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $12.75.

Hedge funds have recently added to or reduced their stakes in the stock. CX Institutional bought a new stake in shares of Energy Transfer in the second quarter valued at about $26,000. Hillsdale Investment Management Inc. bought a new stake in shares of Energy Transfer in the second quarter valued at about $27,000. Bbva USA bought a new stake in shares of Energy Transfer in the second quarter valued at about $27,000. Itau Unibanco Holding S.A. bought a new stake in shares of Energy Transfer in the second quarter valued at about $35,000. Finally, Interactive Financial Advisors raised its holdings in shares of Energy Transfer by 82.5% in the first quarter. Interactive Financial Advisors now owns 4,642 shares of the pipeline company’s stock valued at $36,000 after acquiring an additional 2,098 shares in the last quarter. Hedge funds and other institutional investors own 37.96% of the company’s stock.

About Energy Transfer

Energy Transfer LP provides natural gas pipeline transportation and transmission services. It operates through the following segments: Intrastate Transportation and Storage, Interstate Transportation and Storage, Midstream, NGL and Refined Products Transportation and Services, Crude Oil Transportation and Services, Investment in Sunoco LP, Investment in USAC, and All Other.

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