Energy Transfer (NYSE:ET) Posts Earnings Results, Hits Estimates

Energy Transfer (NYSE:ET) announced its quarterly earnings results on Wednesday. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32, Briefing.com reports. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 EPS.

Energy Transfer Trading Down 0.1 %

Shares of ET stock traded down $0.01 on Thursday, reaching $17.41. 27,754,070 shares of the stock were exchanged, compared to its average volume of 13,212,618. Energy Transfer has a 1-year low of $13.01 and a 1-year high of $17.71. The stock has a market cap of $59.58 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The firm has a 50 day moving average of $16.25 and a two-hundred day moving average of $16.03.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.3225 per share. The ex-dividend date is Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 7.41%. Energy Transfer’s dividend payout ratio is presently 107.56%.

Insiders Place Their Bets

In other news, EVP Gregory G. Mcilwain bought 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Gregory G. Mcilwain purchased 20,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelcy L. Warren acquired 3,000,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 3,040,000 shares of company stock worth $47,667,200 over the last three months. 3.28% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on ET shares. Royal Bank of Canada increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. Finally, UBS Group boosted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $20.00.

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.