Energy Transfer (NYSE:ET) Sets New 1-Year High – Here’s What Happened

Shares of Energy Transfer LP (NYSE:ET) hit a new 52-week high on Friday . The company traded as high as $16.55 and last traded at $16.55, with a volume of 2698297 shares trading hands. The stock had previously closed at $16.36.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ET shares. UBS Group increased 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. JPMorgan Chase & Co. raised their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Finally, Mizuho raised their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Energy Transfer has a consensus rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Stock Up 1.0 %

The company has a market cap of $55.67 billion, a PE ratio of 15.16, a P/E/G ratio of 0.50 and a beta of 1.66. The business has a 50-day simple moving average of $16.04 and a 200-day simple moving average of $15.92. 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 (NYSE:ET) last issued 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 business had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 EPS. Equities research analysts anticipate that Energy Transfer LP will post 1.35 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 7.75%. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

Insider Activity

In other news, Director Kelcy L. Warren bought 3,000,000 shares of the firm’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 $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 trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of Energy Transfer stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kelcy L. Warren acquired 3,000,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the transaction, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 3,040,000 shares of company stock worth $47,667,200 over the last quarter. 3.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Energy Transfer

A number of institutional investors have recently added to or reduced their stakes in ET. LRI Investments LLC purchased a new position in Energy Transfer during the first quarter worth approximately $29,000. HWG Holdings LP acquired a new stake in Energy Transfer during the second quarter worth $33,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Energy Transfer during the fourth quarter worth $34,000. Sugarloaf Wealth Management LLC increased its stake in Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares during the last quarter. Finally, Adirondack Trust Co. acquired a new stake in Energy Transfer during the fourth quarter worth $42,000. Hedge funds and other 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.