Energy Transfer (NYSE:ET) Shares Up 0.7% – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s stock price was up 0.7% during mid-day trading on Thursday . The company traded as high as $17.71 and last traded at $17.54. Approximately 8,362,301 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 13,119,453 shares. The stock had previously closed at $17.42.

Analyst Ratings Changes

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

Energy Transfer Price Performance

The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The company has a fifty day moving average price of $16.25 and a 200 day moving average price of $16.03. The company has a market capitalization of $59.89 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 EPS. On average, sell-side analysts forecast that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be issued a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 7.37%. The ex-dividend date of this dividend is Friday, November 8th. Energy Transfer’s payout ratio is currently 107.56%.

Insider Transactions at Energy Transfer

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fortis Capital Management LLC lifted its holdings in Energy Transfer by 2.0% during the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock valued at $513,000 after purchasing an additional 634 shares during the last quarter. Princeton Global Asset Management LLC raised its position in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares during the last quarter. Veracity Capital LLC boosted its stake in 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 purchasing an additional 659 shares in the last quarter. Sfmg LLC grew its holdings in shares of Energy Transfer by 2.2% during the first quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock worth $494,000 after purchasing an additional 674 shares during the last quarter. Finally, Haverford Trust Co increased its stake in shares of Energy Transfer by 0.7% in the third quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock valued at $1,640,000 after buying an additional 675 shares in the last quarter. 38.22% of the stock is owned by 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.