Energy Transfer (NYSE:ET) Trading Up 2.1% – What’s Next?

Energy Transfer LP (NYSE:ET)’s stock price was up 2.1% during mid-day trading on Thursday . The stock traded as high as $16.91 and last traded at $16.8750. Approximately 18,245,709 shares traded hands during mid-day trading, an increase of 12% from the average daily volume of 16,233,324 shares. The stock had previously closed at $16.52.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ET shares. Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th. Jefferies Financial Group set a $17.00 price target on shares of Energy Transfer and gave the company a “hold” rating in a research report on Tuesday, October 28th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research note on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Finally, Barclays reiterated an “overweight” rating and issued a $25.00 target price on shares of Energy Transfer in a report on Wednesday, October 15th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.

Energy Transfer Stock Up 2.1%

The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.14 and a current ratio of 1.41. The firm’s fifty day simple moving average is $16.58 and its 200 day simple moving average is $17.10. The stock has a market capitalization of $57.94 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 0.85 and a beta of 0.66.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.06). Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The company had revenue of $19.95 billion for the quarter, compared to the consensus estimate of $21.84 billion. During the same period in the prior year, the company earned $0.32 EPS. The firm’s revenue was down 3.9% on a year-over-year basis. On average, sell-side analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were issued a dividend of $0.3325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, November 7th. This represents a $1.33 dividend on an annualized basis and a yield of 7.9%. Energy Transfer’s dividend payout ratio is currently 106.40%.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren purchased 1,000,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were bought at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the acquisition, the director directly owned 104,577,803 shares in the company, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ryan Investment Management Inc. bought a new stake in shares of Energy Transfer during the 2nd quarter worth approximately $31,000. CNB Bank lifted its stake in Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 1,000 shares during the last quarter. Financial Life Planners acquired a new stake in Energy Transfer in the third quarter valued at $34,000. HHM Wealth Advisors LLC grew its position in shares of Energy Transfer by 54.4% in the 2nd quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 800 shares during the period. Finally, Crowley Wealth Management Inc. acquired a new position in shares of Energy Transfer during the 2nd quarter worth about $44,000. 38.22% of the stock is owned by institutional investors.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.