Energy Transfer (NYSE:ET) Trading 0.5% Higher on Analyst Upgrade

Energy Transfer LP (NYSE:ET)’s share price rose 0.5% during mid-day trading on Thursday after Royal Bank of Canada raised their price target on the stock from $19.00 to $20.00. Royal Bank of Canada currently has an outperform rating on the stock. Energy Transfer traded as high as $16.50 and last traded at $16.49. Approximately 2,798,664 shares changed hands during trading, a decline of 79% from the average daily volume of 13,091,479 shares. The stock had previously closed at $16.40.

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

Insiders Place Their Bets

In related news, EVP Gregory G. Mcilwain bought 20,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Kelcy L. Warren purchased 3,000,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The stock was acquired 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 in the company, valued at $1,934,686,992. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gregory G. Mcilwain acquired 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, 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 approximately $9,270,188.48. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 3,040,000 shares of company stock worth $47,667,200. 3.28% of the stock is owned by insiders.

Institutional Trading of Energy Transfer

Several hedge funds and other institutional investors have recently modified their holdings of ET. Ellsworth Advisors LLC lifted its position in shares of Energy Transfer by 15.7% in the third quarter. Ellsworth Advisors LLC now owns 99,532 shares of the pipeline company’s stock worth $1,597,000 after purchasing an additional 13,520 shares in the last quarter. Secure Asset Management LLC acquired a new position in Energy Transfer in the 3rd quarter valued at approximately $227,000. Good Life Advisors LLC lifted its position in Energy Transfer by 4.0% in the 3rd quarter. Good Life Advisors LLC now owns 28,723 shares of the pipeline company’s stock worth $461,000 after buying an additional 1,092 shares in the last quarter. Alliance Wealth Advisors LLC acquired a new stake in shares of Energy Transfer during the 3rd quarter valued at $395,000. Finally, Griffin Asset Management Inc. grew its holdings in shares of Energy Transfer by 1.0% during the 3rd quarter. Griffin Asset Management Inc. now owns 99,221 shares of the pipeline company’s stock valued at $1,592,000 after acquiring an additional 1,008 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Up 0.5 %

The firm has a market capitalization of $55.57 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. 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 of $16.09 and a 200-day moving average of $15.94.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $20.73 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 earnings per share. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a $0.32 dividend. The ex-dividend date was Friday, August 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a yield of 7.76%. Energy Transfer’s payout ratio is 117.43%.

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.