Energy Transfer LP (NYSE:ET) CEO Acquires $313,600.00 in Stock

Energy Transfer LP (NYSE:ET) CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Energy Transfer Trading Up 0.1 %

Shares of NYSE:ET opened at $15.98 on Friday. The stock’s 50-day simple moving average is $15.98 and its two-hundred day simple moving average is $15.53. The stock has a market capitalization of $53.85 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 0.42 and a beta of 1.66. Energy Transfer LP has a 52-week low of $12.56 and a 52-week high of $16.50. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. During the same period in the previous year, the business posted $0.25 EPS. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. Analysts expect that Energy Transfer LP will post 1.49 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Friday, August 9th will be given a dividend of $0.32 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 8.01%. Energy Transfer’s payout ratio is presently 117.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Morgan Stanley increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. UBS Group raised their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Mizuho increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Finally, Stifel Nicolaus boosted their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently modified their holdings of ET. Northwest Financial Advisors bought a new position in shares of Energy Transfer in the fourth quarter worth about $25,000. LRI Investments LLC bought a new stake in Energy Transfer during the 1st quarter worth approximately $29,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Energy Transfer during the fourth quarter valued at approximately $33,000. Ables Iannone Moore & Associates Inc. purchased a new position in Energy Transfer during the fourth quarter valued at approximately $34,000. Finally, Hudson Edge Investment Partners Inc. purchased a new position in Energy Transfer during the second quarter valued at approximately $42,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

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.