Energy Transfer (NYSE:ET) PT Raised to $23.00 at UBS Group

Energy Transfer (NYSE:ET) had its price objective boosted by UBS Group from $22.00 to $23.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the pipeline company’s stock.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an overweight rating in a research report on Thursday, June 20th. Mizuho boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company a buy rating in a research report on Tuesday, June 18th. Finally, Morgan Stanley lifted their target price 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. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $19.14.

Energy Transfer Stock Performance

Energy Transfer stock opened at $16.20 on Wednesday. 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 firm has a 50-day moving average of $16.06 and a 200-day moving average of $15.83. The firm has a market cap of $54.59 billion, a P/E ratio of 14.86, a P/E/G ratio of 0.46 and a beta of 1.66. Energy Transfer has a 1-year low of $12.90 and a 1-year high of $16.50.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The firm had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. During the same quarter in the prior year, the company posted $0.25 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. Sell-side analysts expect that Energy Transfer will post 1.4 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 7.90%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. Energy Transfer’s dividend payout ratio is presently 117.43%.

Insider Activity at Energy Transfer

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

Hedge Funds Weigh In On Energy Transfer

Hedge funds and other institutional investors have recently modified their holdings of the business. LRI Investments LLC purchased a new stake in Energy Transfer during the first quarter valued at approximately $29,000. HWG Holdings LP purchased a new stake in Energy Transfer during the second quarter valued at approximately $33,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Energy Transfer during the fourth quarter valued at approximately $34,000. Adirondack Trust Co. purchased a new stake in Energy Transfer during the fourth quarter valued at approximately $42,000. Finally, EdgeRock Capital LLC purchased a new stake in Energy Transfer during the second quarter valued at approximately $42,000. 38.22% of the stock is currently owned by institutional investors.

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.