Energy Transfer (NYSE:ET) Stock Price Up 1.2% – What’s Next?

Energy Transfer LP (NYSE:ET) rose 1.2% during trading on Friday . The stock traded as high as $16.55 and last traded at $16.55. Approximately 4,494,465 shares traded hands during trading, a decline of 66% from the average daily volume of 13,067,633 shares. The stock had previously closed at $16.36.

Wall Street Analyst Weigh In

ET has been the topic of a number of recent analyst reports. UBS Group increased their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Finally, Mizuho increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Stock Performance

The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The company’s 50-day moving average is $16.03 and its two-hundred day moving average is $15.91. The company has a market capitalization of $55.87 billion, a P/E ratio of 15.22, a PEG ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data 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). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. During the same quarter last year, the company posted $0.25 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. Equities 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 declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a dividend of $0.32 per share. 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 7.72%. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of Energy Transfer 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 completion of the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Gregory G. Mcilwain bought 20,000 shares of the business’s stock in a transaction dated 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 acquisition, the executive vice president now 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 filing with the SEC, which is available at this hyperlink. Also, Director Kelcy L. Warren bought 3,000,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the acquisition, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 3,040,000 shares of company stock worth $47,667,200 over the last ninety days. Insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. LRI Investments LLC purchased a new stake in Energy Transfer in the first quarter worth $29,000. HWG Holdings LP purchased a new stake in Energy Transfer in the second quarter worth $33,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Energy Transfer in the fourth quarter worth $34,000. Sugarloaf Wealth Management LLC lifted its stake in Energy Transfer by 43.6% in 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 period. Finally, Adirondack Trust Co. purchased a new stake in Energy Transfer in the fourth quarter worth $42,000. 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.