Energy Transfer (NYSE:ET) Stock Price Up 0.1%

Energy Transfer LP (NYSE:ET) rose 0.1% during trading on Friday . The company traded as high as $16.02 and last traded at $15.98. Approximately 2,000,654 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 13,408,101 shares. The stock had previously closed at $15.96.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. UBS Group raised their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Morgan Stanley increased their price target 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. JPMorgan Chase & Co. increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Mizuho increased their price target 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. Finally, Stifel Nicolaus increased their price target 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. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Trading Up 0.2 %

The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The company has a fifty day moving average of $16.09 and a two-hundred day moving average of $15.66. The stock has a market capitalization of $53.89 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 0.42 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same period last year, the business posted $0.25 EPS. Energy Transfer’s revenue was up 13.1% compared to the same quarter last year. On average, research analysts expect that Energy Transfer LP will post 1.49 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 8.01%. The ex-dividend date was Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is 117.43%.

Insider Transactions at Energy Transfer

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the purchase, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the transaction, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The disclosure for this purchase can be found here. Insiders bought 3,040,000 shares of company stock valued at $47,667,200 in the last 90 days. 3.28% of the stock is currently owned by insiders.

Institutional Trading of Energy Transfer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ET. Tortoise Capital Advisors L.L.C. grew its holdings in shares of Energy Transfer by 12.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after purchasing an additional 4,141,715 shares during the period. UBS Group AG raised its position in shares of Energy Transfer by 13.3% in the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock valued at $395,270,000 after purchasing an additional 3,368,427 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Energy Transfer by 18.5% in the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after purchasing an additional 3,976,676 shares in the last quarter. First Reserve GP XIII Ltd acquired a new position in shares of Energy Transfer in the 4th quarter valued at approximately $322,097,000. Finally, Natixis raised its position in shares of Energy Transfer by 20.0% in the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after purchasing an additional 2,999,300 shares in the last quarter. 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.