Energy Transfer (NYSE:ET) Trading Up 1.4% - Here's What Happened

Key Points

• Energy Transfer's share price increased by 1.4%, trading at $16.52 with an average daily volume of approximately 15.1 million shares.
• Analysts have a Moderate Buy rating for the stock, with a decreased average price target of $22.50, despite some firms maintaining or increasing their target prices.
• The company recently declared a quarterly dividend of $0.33, yielding 8.0%, though the dividend payout ratio stands at 102.33%.

Energy Transfer LP (NYSE:ET - Get Free Report)'s share price was up 1.4% during trading on Monday . The stock traded as high as $16.54 and last traded at $16.52. Approximately 15,130,772 shares were traded during mid-day trading, an increase of 1% from the average daily volume of 14,947,367 shares. The stock had previously closed at $16.29.

Analyst Ratings Changes

Several equities analysts have recently commented on ET shares. Morgan Stanley decreased their price target on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 26th. Wells Fargo & Company reissued an "overweight" rating and set a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Cowen assumed coverage on Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Finally, TD Cowen began coverage on Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating and a $22.00 target price on the stock. Fourteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.50.

Energy Transfer Trading Up 1.4%

The company has a fifty day simple moving average of $17.34 and a two-hundred day simple moving average of $17.45. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The company has a market cap of $56.69 billion, a PE ratio of 12.80, a P/E/G ratio of 0.96 and a beta of 0.78.

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

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date was Friday, August 8th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is currently 102.33%.

Insider Activity at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren acquired 1,350,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the acquisition, the director owned 69,178,477 shares in the company, valued at $1,200,938,360.72. The trade was a 1.99% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.28% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ET. Brighton Jones LLC increased its holdings in shares of Energy Transfer by 93.4% in the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock valued at $481,000 after acquiring an additional 11,844 shares during the last quarter. GAMMA Investing LLC grew its stake in Energy Transfer by 1,139.3% during the 1st quarter. GAMMA Investing LLC now owns 18,590 shares of the pipeline company's stock worth $346,000 after buying an additional 17,090 shares during the last quarter. Park Avenue Securities LLC grew its stake in Energy Transfer by 43.1% during the 1st quarter. Park Avenue Securities LLC now owns 17,324 shares of the pipeline company's stock worth $322,000 after buying an additional 5,216 shares during the last quarter. CX Institutional purchased a new position in Energy Transfer during the 1st quarter worth approximately $50,000. Finally, Simon Quick Advisors LLC grew its stake in Energy Transfer by 35.2% during the 1st quarter. Simon Quick Advisors LLC now owns 13,759 shares of the pipeline company's stock worth $256,000 after buying an additional 3,579 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company's stock.

Energy Transfer Company Profile

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.

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