Energy Transfer (NYSE:ET) Stock Price Up 0.1%

Shares of Energy Transfer LP (NYSE:ET) rose 0.1% during trading on Monday . The stock traded as high as $16.00 and last traded at $15.91. Approximately 1,303,401 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 13,409,248 shares. The stock had previously closed at $15.89.

Analyst Upgrades and Downgrades

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

Energy Transfer Stock Performance

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 $54.31 billion, a PE ratio of 14.40, a PEG ratio of 0.47 and a beta of 1.66. The stock’s 50 day moving average price is $16.08 and its two-hundred day moving average price is $15.76.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same quarter last year, the firm posted $0.25 earnings per share. The company’s revenue was up 13.1% on a year-over-year basis. On average, equities analysts expect that Energy Transfer LP will post 1.4 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 8.07%. This is a boost 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%.

Insider Transactions at Energy Transfer

In other news, CEO Thomas E. Long acquired 20,000 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s 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 $47,040,000.00. Following the completion of the purchase, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas E. Long bought 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. The disclosure for this purchase can be found here. Insiders purchased 3,040,000 shares of company stock valued at $47,667,200 over the last quarter. Company insiders own 3.28% of the company’s stock.

Institutional Trading of Energy Transfer

Institutional investors and hedge funds have recently modified their holdings of the business. LRI Investments LLC acquired a new position in Energy Transfer during the 1st quarter valued at about $29,000. HWG Holdings LP acquired a new position in shares of Energy Transfer during the second quarter valued at approximately $33,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in Energy Transfer in the fourth quarter worth approximately $33,000. Ables Iannone Moore & Associates Inc. bought a new position in Energy Transfer during the 4th quarter valued at $34,000. Finally, Hudson Edge Investment Partners Inc. acquired a new position in shares of Energy Transfer during the 2nd quarter valued at $42,000. 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.