Energy Transfer (NYSE:ET) Trading Up 0.1% – Time to Buy?

Shares of Energy Transfer LP (NYSE:ET) rose 0.1% on Wednesday . The stock traded as high as $16.22 and last traded at $16.19. Approximately 930,596 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 13,107,052 shares. The stock had previously closed at $16.17.

Analyst Ratings Changes

ET has been the topic of several analyst reports. UBS Group lifted their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. 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, 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Energy Transfer presently has an average rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Stock Performance

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 stock has a market capitalization of $56.06 billion, a PE ratio of 13.76, a P/E/G ratio of 0.50 and a beta of 1.66. The stock has a 50 day moving average of $16.03 and a two-hundred day moving average of $15.91.

Energy Transfer (NYSE:ET) last posted its quarterly 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). 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 analysts’ expectations of $22.01 billion. During the same quarter last year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. Research analysts expect that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, August 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.81%. Energy Transfer’s payout ratio is currently 107.56%.

Insider Buying and Selling

In other news, CEO Thomas E. Long acquired 20,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the chief executive officer now owns 4,308,859 shares in the company, 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 SEC, which is available through the SEC website. In other news, CEO Thomas E. Long acquired 20,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the chief executive officer now owns 4,308,859 shares in the company, 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 SEC, which is available through the SEC website. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was bought at an average cost 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 approximately $1,934,686,992. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Energy Transfer

Institutional investors have recently made changes to their positions in the stock. Gilman Hill Asset Management LLC increased its stake in Energy Transfer by 3.4% in the third quarter. Gilman Hill Asset Management LLC now owns 409,164 shares of the pipeline company’s stock valued at $6,567,000 after purchasing an additional 13,544 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in Energy Transfer by 3.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,484,417 shares of the pipeline company’s stock valued at $23,825,000 after purchasing an additional 49,575 shares during the last quarter. Westend Capital Management LLC increased its stake in Energy Transfer by 1.5% in the third quarter. Westend Capital Management LLC now owns 730,575 shares of the pipeline company’s stock valued at $11,726,000 after purchasing an additional 11,020 shares during the last quarter. Chickasaw Capital Management LLC increased its stake in Energy Transfer by 3.1% in the third quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock valued at $246,376,000 after purchasing an additional 466,565 shares during the last quarter. Finally, Silverlake Wealth Management LLC increased its stake in Energy Transfer by 6.3% in the third quarter. Silverlake Wealth Management LLC now owns 107,626 shares of the pipeline company’s stock valued at $1,727,000 after purchasing an additional 6,337 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

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.