Energy Transfer LP (NYSE:ET – Get Free Report) CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.
Energy Transfer Trading Up 0.1 %
Shares of NYSE:ET opened at $15.98 on Friday. The stock’s 50-day simple moving average is $15.98 and its two-hundred day simple moving average is $15.53. The stock has a market capitalization of $53.85 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 0.42 and a beta of 1.66. Energy Transfer LP has a 52-week low of $12.56 and a 52-week high of $16.50. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18.
Energy Transfer (NYSE:ET – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. During the same period in the previous year, the business posted $0.25 EPS. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. Analysts expect that Energy Transfer LP will post 1.49 EPS for the current year.
Energy Transfer Increases Dividend
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the company. Morgan Stanley increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. UBS Group raised their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Mizuho increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Finally, Stifel Nicolaus boosted their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.
Get Our Latest Report on Energy Transfer
Institutional Investors Weigh In On Energy Transfer
Several hedge funds and other institutional investors have recently modified their holdings of ET. Northwest Financial Advisors bought a new position in shares of Energy Transfer in the fourth quarter worth about $25,000. LRI Investments LLC bought a new stake in Energy Transfer during the 1st quarter worth approximately $29,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Energy Transfer during the fourth quarter valued at approximately $33,000. Ables Iannone Moore & Associates Inc. purchased a new position in Energy Transfer during the fourth quarter valued at approximately $34,000. Finally, Hudson Edge Investment Partners Inc. purchased a new position in Energy Transfer during the second quarter valued at approximately $42,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.
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.
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