Energy Transfer (NYSE:ET) Trading Up 0.6% – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s share price was up 0.6% during trading on Friday . The company traded as high as $17.27 and last traded at $17.25. Approximately 4,205,698 shares changed hands during trading, a decline of 68% from the average daily volume of 13,318,466 shares. The stock had previously closed at $17.15.

Analyst Ratings Changes

Several research analysts have issued reports on ET shares. Royal Bank of Canada raised their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. UBS Group increased their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Bank of America initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Stock Performance

The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The business has a 50 day moving average of $16.42 and a 200 day moving average of $16.09. The company has a market capitalization of $59.20 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 0.52 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the prior year, the company earned $0.31 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts predict that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be issued a $0.3225 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.46%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Insider Activity at Energy Transfer

In related news, EVP Gregory G. Mcilwain purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought 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 approximately $9,270,188.48. This represents a 3.50 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Fortis Capital Management LLC boosted its stake in shares of Energy Transfer by 2.0% during the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock worth $513,000 after purchasing an additional 634 shares during the period. Princeton Global Asset Management LLC grew its stake in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the last quarter. Veracity Capital LLC raised its holdings in shares of Energy Transfer by 2.0% in the second quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock worth $545,000 after buying an additional 659 shares during the period. Haverford Trust Co lifted its stake in shares of Energy Transfer by 0.7% during the 3rd quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock worth $1,640,000 after acquiring an additional 675 shares during the last quarter. Finally, Morton Capital Management LLC CA grew its position in Energy Transfer by 1.6% in the 2nd quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock valued at $720,000 after acquiring an additional 699 shares during the last quarter. Institutional investors 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.