Energy Transfer (NYSEAMERICAN:ET) Issues Earnings Results, Misses Estimates By $0.07 EPS

Energy Transfer (NYSEAMERICAN:ET) announced its quarterly earnings data on Tuesday. The pipeline company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07), RTT News reports. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. During the same quarter last year, the company earned $0.28 EPS.

Energy Transfer Trading Up 0.5%

Shares of ET stock traded up $0.09 during trading hours on Tuesday, hitting $20.43. 1,614,261 shares of the company’s stock traded hands, compared to its average volume of 12,033,980. The stock’s 50 day simple moving average is $20.75 and its 200 day simple moving average is $19.66. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. The stock has a market cap of $70.36 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 0.72 and a beta of 0.60. Energy Transfer has a 12 month low of $16.18 and a 12 month high of $21.84.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Friday, November 6th will be paid a $0.3425 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.37 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, November 6th. Energy Transfer’s payout ratio is currently 92.52%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. Morgan Stanley boosted their price target on Energy Transfer from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 18th. Truist Financial upped their price objective on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Mizuho set a $26.00 price objective on Energy Transfer in a research note on Tuesday, October 13th. Finally, Capital One Financial began coverage on Energy Transfer in a research report on Tuesday, September 22nd. They issued an “overweight” rating and a $26.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $24.60.

About Energy Transfer

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.