Energy Transfer (NYSE:ET) Announces Earnings Results

Energy Transfer (NYSE:ET) released its quarterly earnings data on Wednesday. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32, Briefing.com reports. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year.

Energy Transfer Price Performance

Shares of NYSE ET traded down $0.03 during trading on Thursday, hitting $17.39. The company had a trading volume of 27,824,099 shares, compared to its average volume of 13,212,654. The firm has a market capitalization of $59.51 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. The stock has a fifty day simple moving average of $16.25 and a two-hundred day simple moving average of $16.03. 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 has a fifty-two week low of $13.01 and a fifty-two week high of $17.71.

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 given a dividend of $0.3225 per share. The ex-dividend date is Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.42%. Energy Transfer’s dividend payout ratio (DPR) is 107.56%.

Wall Street Analyst Weigh In

ET has been the topic of a number of research analyst reports. Bank of America assumed coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Royal Bank of Canada boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, UBS Group raised their price target 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. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $20.00.

Insider Activity at Energy Transfer

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

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.