Energy Transfer (NYSE:ET) Sets New 1-Year High – What’s Next?

Energy Transfer LP (NYSE:ET)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $21.77 and last traded at $21.6150, with a volume of 703342 shares. The stock had previously closed at $21.51.

Analysts Set New Price Targets

ET has been the topic of a number of recent research reports. Raymond James Financial restated a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Zacks Research cut Energy Transfer from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. TD Cowen reaffirmed a “buy” rating and set a $25.00 price objective (up from $24.00) on shares of Energy Transfer in a report on Monday, August 10th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.08.

Energy Transfer Price Performance

The business has a 50 day moving average price of $20.27 and a two-hundred day moving average price of $19.56. The stock has a market cap of $74.26 billion, a PE ratio of 14.67, a P/E/G ratio of 0.74 and a beta of 0.55. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.21. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The company had revenue of $34.33 billion during the quarter, compared to the consensus estimate of $27.71 billion. During the same period last year, the business posted $0.32 earnings per share. Energy Transfer’s revenue was up 78.4% on a year-over-year basis. Research analysts expect that Energy Transfer LP will post 1.66 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.36 annualized dividend and a dividend yield of 6.3%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is 92.52%.

Insiders Place Their Bets

In related news, Director James Richard Perry acquired 12,359 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the acquisition, the director owned 208,046 shares of the company’s stock, valued at approximately $4,208,770.58. This represents a 6.32% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kelcy L. Warren acquired 647,968 shares of the stock in a transaction on Wednesday, August 19th. The stock was bought at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the transaction, the director owned 147,901,879 shares of the company’s stock, valued at approximately $3,144,393,947.54. This trade represents a 0.44% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 1,012,359 shares of company stock worth $21,513,543 over the last quarter. Company insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Energy Transfer

Several large investors have recently modified their holdings of ET. Basepoint Wealth LLC purchased a new position in Energy Transfer in the fourth quarter valued at approximately $25,000. Osbon Capital Management LLC purchased a new stake in Energy Transfer in the second quarter worth $25,000. Gables Capital Management Inc. raised its stake in shares of Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after buying an additional 600 shares during the period. Sarver Vrooman Wealth Advisors bought a new stake in shares of Energy Transfer in the fourth quarter valued at $32,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of Energy Transfer in the first quarter valued at $35,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.