Energy Transfer (NYSE:ET) Shares Up 0.4%

Energy Transfer LP (NYSE:ET)’s share price rose 0.4% during trading on Monday . The stock traded as high as $15.73 and last traded at $15.72. Approximately 4,549,465 shares changed hands during trading, a decline of 66% from the average daily volume of 13,348,526 shares. The stock had previously closed at $15.66.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ET shares. Mizuho upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Stifel Nicolaus increased their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. 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 report on Monday, June 10th. JPMorgan Chase & Co. increased their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Finally, UBS Group boosted their price target on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Price Performance

The stock has a 50-day moving average price of $15.96 and a two-hundred day moving average price of $15.53. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. The stock has a market cap of $53.79 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 0.42 and a beta of 1.66.

Energy Transfer (NYSE:ET) last issued its quarterly 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 business 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 12.22% and a net margin of 4.85%. Energy Transfer’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. As a group, equities research analysts forecast that Energy Transfer LP will post 1.49 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Friday, August 9th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 8.02%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 117.43%.

Insider Activity

In other news, CEO Thomas E. Long acquired 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Energy Transfer news, CEO Thomas E. Long acquired 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. 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 purchase, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kelcy L. Warren bought 3,000,000 shares of Energy Transfer 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 acquisition, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The disclosure for this purchase can be found here. Corporate insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Energy Transfer

Large investors have recently made changes to their positions in the company. Northwest Financial Advisors acquired a new position in Energy Transfer in the 4th quarter worth about $25,000. LRI Investments LLC purchased a new position in shares of Energy Transfer during the 1st quarter valued at approximately $29,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Energy Transfer during the 4th quarter valued at approximately $33,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Energy Transfer in the 4th quarter valued at $34,000. Finally, Community Bank N.A. increased its holdings in Energy Transfer by 55.9% in the 4th quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 951 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.