Energy Transfer (NYSE:ET) Shares Up 1.3% – Should You Buy?

Energy Transfer LP (NYSE:ET) was up 1.3% during mid-day trading on Friday . The company traded as high as $21.10 and last traded at $21.0230. Approximately 6,926,091 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 13,423,073 shares. The stock had previously closed at $20.76.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. TD Cowen reaffirmed a “buy” rating and set a $25.00 price objective (up from $24.00) on shares of Energy Transfer in a research report on Monday. Wall Street Zen raised Energy Transfer from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Truist Financial boosted their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup restated a “buy” rating and set a $24.00 target price (up from $23.00) on shares of Energy Transfer in a report on Friday, August 7th. Finally, Zacks Research cut Energy Transfer from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.92.

Energy Transfer Stock Up 1.3%

The firm has a market capitalization of $72.39 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 1.99 and a beta of 0.55. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. The business’s 50 day moving average is $19.73 and its 200-day moving average is $19.30.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The firm had revenue of $34.33 billion during the quarter, compared to analyst estimates of $27.71 billion. During the same quarter in the previous year, the business earned $0.32 EPS. The business’s revenue was up 78.4% on a year-over-year basis. Equities analysts anticipate that Energy Transfer LP will post 1.57 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.36 annualized dividend and a dividend yield of 6.5%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is presently 92.52%.

Insiders Place Their Bets

In other Energy Transfer news, Director James Richard Perry bought 12,359 shares of the stock in a transaction on Friday, August 7th. The shares were purchased at an average price of $20.23 per share, with a total value of $250,022.57. Following the acquisition, the director directly owned 208,046 shares of the company’s stock, valued at $4,208,770.58. This represents a 6.32% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors have recently bought and sold shares of the business. Osbon Capital Management LLC bought a new stake in shares of Energy Transfer in the 2nd quarter valued at approximately $25,000. Basepoint Wealth LLC bought a new stake in shares of Energy Transfer in the 4th quarter worth about $25,000. Gables Capital Management Inc. grew its holdings in shares of Energy Transfer by 60.0% in the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 600 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Energy Transfer during the 1st quarter worth about $35,000. Finally, Sarver Vrooman Wealth Advisors acquired a new stake in shares of Energy Transfer during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.