Energy Transfer (NYSE:ET) Shares Up 0.9%

Energy Transfer LP (NYSE:ET) was up 0.9% during trading on Friday . The stock traded as high as $16.15 and last traded at $16.14. Approximately 2,766,300 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 13,320,457 shares. The stock had previously closed at $16.00.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ET. Mizuho raised their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Finally, Morgan Stanley lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.29.

Energy Transfer Trading Up 1.1 %

The company’s fifty day moving average is $16.06 and its 200-day moving average is $15.78. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $55.34 billion, a P/E ratio of 14.83, a P/E/G ratio of 0.46 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its quarterly earnings results 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). The firm had revenue of $20.73 billion for the quarter, compared to the consensus estimate 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 was up 13.1% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.4 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a $0.32 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.92%. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s payout ratio is currently 117.43%.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ET. LRI Investments LLC acquired a new position in shares of Energy Transfer in the 1st quarter valued at $29,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Energy Transfer in the fourth quarter worth about $33,000. HWG Holdings LP bought a new position in Energy Transfer during the second quarter worth about $33,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Energy Transfer during the fourth quarter valued at approximately $34,000. Finally, Adirondack Trust Co. bought a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $42,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Company Profile

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.