Energy Transfer Target of Unusually High Options Trading (NYSE:ET)

Energy Transfer LP (NYSE:ET) was the recipient of some unusual options trading activity on Friday. Stock traders bought 76,347 call options on the stock. This represents an increase of 97% compared to the average daily volume of 38,676 call options.

Energy Transfer Stock Down 0.5 %

Shares of ET traded down $0.09 on Friday, hitting $16.40. The company’s stock had a trading volume of 3,129,883 shares, compared to its average volume of 13,092,766. 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 firm has a market capitalization of $55.27 billion, a price-to-earnings ratio of 15.11, a P/E/G ratio of 0.50 and a beta of 1.66. The firm’s fifty day moving average price is $16.09 and its 200-day moving average price is $15.94. Energy Transfer has a fifty-two week low of $12.90 and a fifty-two week high of $16.64.

Energy Transfer (NYSE:ET) last released 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). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same quarter last year, the company earned $0.25 EPS. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, equities research analysts expect that Energy Transfer will post 1.35 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a $0.32 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. This represents a $1.28 annualized dividend and a dividend yield of 7.80%. Energy Transfer’s dividend payout ratio (DPR) is currently 117.43%.

Insider Activity at Energy Transfer

In related news, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the acquisition, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 3,040,000 shares of company stock worth $47,667,200 in the last ninety days. 3.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Energy Transfer

Several institutional investors have recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. lifted its position in shares of Energy Transfer by 12.7% in the second 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 in the last quarter. Natixis increased its stake in 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 buying an additional 2,999,300 shares during the last quarter. Payden & Rygel Investment Group bought a new stake in Energy Transfer during the 1st quarter worth about $20,164,000. Merewether Investment Management LP boosted its stake in shares of Energy Transfer by 22.3% during the 2nd quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock worth $106,919,000 after buying an additional 1,200,501 shares during the last quarter. Finally, Progeny 3 Inc. grew its holdings in shares of Energy Transfer by 104.6% in the 1st quarter. Progeny 3 Inc. now owns 2,205,785 shares of the pipeline company’s stock valued at $34,697,000 after acquiring an additional 1,127,500 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ET shares. Bank of America started coverage on Energy Transfer in a research note on Thursday. They set a “buy” rating and a $20.00 price target on the stock. UBS Group upped their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Finally, Royal Bank of Canada increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $20.00.

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.