Energy Transfer (NYSE:ET) Trading Up 1.7% - Here's Why

Key Points

• Energy Transfer's share price increased by 1.7%, closing at $18.03 after trading as high as $18.12, with a volume decline of 45% from its average daily trading volume.
• Analysts have given the stock a consensus target price of $22.58, with one hold rating and twelve buy ratings, reflecting a Moderate Buy rating from the market.
• The company announced a quarterly dividend payment of $0.33, resulting in a 7.4% yield, despite having a high payout ratio of 99.24%.

Energy Transfer LP (NYSE:ET - Get Free Report)'s share price rose 1.7% on Wednesday . The company traded as high as $18.12 and last traded at $18.03. Approximately 8,564,295 shares changed hands during trading, a decline of 45% from the average daily volume of 15,492,388 shares. The stock had previously closed at $17.73.

Analyst Upgrades and Downgrades

ET has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Cowen initiated coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating for the company. Wells Fargo & Company decreased their price objective on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. TD Cowen assumed coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating and a $22.00 price objective for the company. Finally, Mizuho raised their target price on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.58.

Energy Transfer Trading Up 0.4%

The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $61.07 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.92 and a beta of 0.83. The company has a fifty day moving average of $17.79 and a 200-day moving average of $18.18.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The company had revenue of $21.02 billion for the quarter, compared to analysts' expectations of $22.28 billion. During the same period in the previous year, the firm posted $0.32 EPS. Energy Transfer's revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Friday, August 8th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 7.4%. The ex-dividend date is Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is presently 99.24%.

Insider Transactions at Energy Transfer

In related news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the sale, the director directly owned 24,523 shares in the company, valued at approximately $453,185.04. The trade was a 5.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.28% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ET. Brighton Jones LLC lifted its stake in Energy Transfer by 93.4% in the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock worth $481,000 after purchasing an additional 11,844 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Energy Transfer by 20.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 12,090 shares of the pipeline company's stock valued at $237,000 after buying an additional 2,032 shares during the period. Peapack Gladstone Financial Corp lifted its holdings in Energy Transfer by 6.7% in the fourth quarter. Peapack Gladstone Financial Corp now owns 16,728 shares of the pipeline company's stock valued at $327,000 after acquiring an additional 1,053 shares during the last quarter. FMR LLC lifted its holdings in Energy Transfer by 15.7% in the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock valued at $756,840,000 after acquiring an additional 5,254,721 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in Energy Transfer by 27.2% in the fourth quarter. Cerity Partners LLC now owns 308,587 shares of the pipeline company's stock valued at $5,866,000 after acquiring an additional 66,056 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

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.