Energy Transfer (NYSE:ET) Stock Price Up 1.9% - What's Next?

Key Points

• Energy Transfer's stock price increased by 1.9% to $16.77, with over 14 million shares traded, reflecting a 6% decline in trading volume compared to its average.
• Analysts have a consensus rating of "Moderate Buy" for Energy Transfer, with an average price target of $22.67, indicating potential upside from current prices.
• The company has announced a quarterly dividend of $0.33 per share, maintaining a **7.9% yield**, despite a high dividend payout ratio of 102.33%.

Energy Transfer LP (NYSE:ET - Get Free Report) rose 1.9% on Monday . The stock traded as high as $16.77 and last traded at $16.77. Approximately 14,038,982 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 14,928,581 shares. The stock had previously closed at $16.45.

Analyst Ratings Changes

ET has been the topic of several analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Morgan Stanley dropped their target price on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 26th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Energy Transfer in a research report on Wednesday, October 8th. UBS Group reaffirmed a "buy" rating and issued a $22.00 target price on shares of Energy Transfer in a research report on Wednesday, October 15th. Finally, TD Cowen assumed coverage on Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 price target for the company. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Energy Transfer has a consensus rating of "Moderate Buy" and an average price target of $22.67.

Energy Transfer Stock Performance

The company has a market cap of $57.55 billion, a P/E ratio of 13.00, a PEG ratio of 0.97 and a beta of 0.78. The company has a 50 day moving average price of $17.23 and a 200-day moving average price of $17.38. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business had revenue of $19.24 billion during the quarter, compared to analysts' expectations of $24.07 billion. During the same quarter last year, the business posted $0.35 earnings per share. The company's quarterly revenue was down 7.2% on a year-over-year basis. Equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were paid a dividend of $0.33 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a yield of 7.9%. The ex-dividend date of this dividend was Friday, August 8th. Energy Transfer's dividend payout ratio (DPR) is 102.33%.

Insiders Place Their Bets

In other news, Director Kelcy L. Warren bought 1,350,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the purchase, the director directly owned 69,178,477 shares of the company's stock, valued at $1,200,938,360.72. This represents a 1.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 3.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC boosted its position in shares of Energy Transfer by 1.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company's stock valued at $723,000 after purchasing an additional 565 shares during the period. Indiana Trust & Investment Management Co boosted its position in shares of Energy Transfer by 5.1% in the 1st quarter. Indiana Trust & Investment Management Co now owns 11,796 shares of the pipeline company's stock valued at $219,000 after purchasing an additional 576 shares during the period. Beam Wealth Advisors Inc. boosted its position in shares of Energy Transfer by 1.5% in the 1st quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company's stock valued at $742,000 after purchasing an additional 585 shares during the period. Bogart Wealth LLC lifted its stake in Energy Transfer by 1.9% in the 2nd quarter. Bogart Wealth LLC now owns 32,788 shares of the pipeline company's stock worth $594,000 after acquiring an additional 604 shares in the last quarter. Finally, MCF Advisors LLC lifted its stake in Energy Transfer by 7.2% in the 2nd quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company's stock worth $167,000 after acquiring an additional 616 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.