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

Energy Transfer LP (NYSE:ET)’s stock price rose 0.1% during mid-day trading on Friday . The stock traded as high as $16.44 and last traded at $16.32. Approximately 3,820,242 shares were traded during trading, a decline of 71% from the average daily volume of 13,204,887 shares. The stock had previously closed at $16.31.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ET. Morgan Stanley raised their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. UBS Group raised their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Mizuho boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Stock Performance

The company has a market cap of $54.93 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. The firm has a 50-day simple moving average of $16.03 and a 200 day simple moving average of $15.89. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS. On average, sell-side analysts predict that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were paid a dividend of $0.32 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 annualized dividend and a dividend yield of 7.85%. Energy Transfer’s dividend payout ratio is 117.43%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. First Reserve GP XIII Ltd acquired a new position in Energy Transfer during the fourth quarter worth about $322,097,000. Tortoise Capital Advisors L.L.C. grew its holdings in shares of Energy Transfer by 12.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after acquiring an additional 4,141,715 shares during the period. Natixis grew its holdings in shares of Energy Transfer by 20.0% in the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after acquiring an additional 2,999,300 shares during the period. Payden & Rygel Investment Group acquired a new position in Energy Transfer during the first quarter worth $20,164,000. Finally, Merewether Investment Management LP boosted its position in Energy Transfer by 22.3% during the second quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock worth $106,919,000 after purchasing an additional 1,200,501 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.