Energy Transfer (NYSE:ET) Trading 1.4% Higher

Energy Transfer LP (NYSE:ET)’s share price shot up 1.4% on Friday . The stock traded as high as $16.22 and last traded at $16.18. 2,536,694 shares were traded during mid-day trading, a decline of 81% from the average session volume of 13,516,385 shares. The stock had previously closed at $15.95.

Analyst Ratings Changes

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

Energy Transfer Stock Performance

The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The company has a 50-day moving average price of $16.04 and a 200-day moving average price of $15.59. The firm has a market capitalization of $54.46 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 0.42 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its earnings results 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 firm had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. As a group, equities research analysts forecast that Energy Transfer LP will post 1.49 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 7.92%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. Energy Transfer’s dividend payout ratio is 117.43%.

Insiders Place Their Bets

In other news, Director Kelcy L. Warren bought 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Kelcy L. Warren purchased 3,000,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas E. Long purchased 20,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost 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 approximately $67,562,909.12. The disclosure for this purchase can be found here. 3.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Berkley W R Corp raised its stake in Energy Transfer by 11.6% during the 1st quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock valued at $83,912,000 after purchasing an additional 555,445 shares during the period. NBC Securities Inc. grew its holdings in shares of Energy Transfer by 4.3% during the 1st quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock valued at $886,000 after acquiring an additional 2,326 shares in the last quarter. US Bancorp DE grew its holdings in shares of Energy Transfer by 95.8% during the 4th quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock valued at $2,013,000 after acquiring an additional 71,386 shares in the last quarter. Savant Capital LLC grew its holdings in shares of Energy Transfer by 19.7% during the 4th quarter. Savant Capital LLC now owns 26,335 shares of the pipeline company’s stock valued at $363,000 after acquiring an additional 4,340 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Energy Transfer by 491.3% during the 1st 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 in the last quarter. Institutional investors own 38.22% of the company’s stock.

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.