Energy Transfer (NYSE:ET) Trading 0.9% Higher – Here’s What Happened

Energy Transfer LP (NYSE:ET)’s stock price shot up 0.9% during mid-day trading on Thursday . The stock traded as high as $16.42 and last traded at $16.41. 2,097,407 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 13,078,572 shares. The stock had previously closed at $16.27.

Wall Street Analyst Weigh In

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

Energy Transfer Stock Performance

The stock has a market cap of $55.64 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 0.50 and a beta of 1.66. 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 stock’s 50-day moving average is $16.04 and its 200-day moving average is $15.92.

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

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were issued a $0.32 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a yield of 7.75%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 117.43%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, CEO Thomas E. Long bought 20,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Thomas E. Long bought 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price 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. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors have recently modified their holdings of ET. Security National Bank of Sioux City Iowa IA increased its position in Energy Transfer by 89.7% in the fourth quarter. Security National Bank of Sioux City Iowa IA now owns 32,825 shares of the pipeline company’s stock worth $453,000 after buying an additional 15,525 shares during the period. DRW Securities LLC acquired a new stake in shares of Energy Transfer in the 4th quarter worth about $1,661,000. CMG Global Holdings LLC lifted its position in Energy Transfer by 8.7% in the 4th quarter. CMG Global Holdings LLC now owns 13,926 shares of the pipeline company’s stock valued at $201,000 after purchasing an additional 1,117 shares during the last quarter. Burford Brothers Inc. bought a new position in Energy Transfer in the 4th quarter worth about $1,667,000. Finally, Voisard Asset Management Group Inc. acquired a new stake in shares of Energy Transfer in the fourth quarter valued at approximately $121,000. 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.