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

Key Points

• Energy Transfer's share price increased by 1.7% to $17.40, with a trading volume of approximately 11.1 million shares.
• Thirteen analysts have rated Energy Transfer as a "Buy", with a consensus target price of $22.50, indicating strong market confidence in the stock's performance.
• The company recently declared a quarterly dividend of $0.33 per share, representing a yield of 7.6% and an increase from its previous dividend payout.

Energy Transfer LP (NYSE:ET - Get Free Report)'s share price was up 1.7% during trading on Wednesday . The company traded as high as $17.46 and last traded at $17.40. Approximately 11,104,376 shares traded hands during trading, a decline of 26% from the average daily volume of 14,958,902 shares. The stock had previously closed at $17.11.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ET shares. Scotiabank started coverage on Energy Transfer in a research note on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 price objective for the company. Morgan Stanley decreased their target price on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Tuesday, August 26th. TD Cowen started coverage on Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 target price for the company. Wells Fargo & Company reissued an "overweight" rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Finally, Cowen started coverage on Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating for the company. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Energy Transfer presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.50.

Energy Transfer Stock Up 1.7%

The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The firm has a 50 day simple moving average of $17.52 and a 200-day simple moving average of $17.60. The stock has a market cap of $59.71 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 1.01 and a beta of 0.85.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) 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 firm had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. During the same quarter in the prior year, the company earned $0.35 earnings per share. The business's revenue for the quarter was down 7.2% compared to the same quarter last year. On average, equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were given 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 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date of this dividend was Friday, August 8th. Energy Transfer's dividend payout ratio (DPR) is currently 102.33%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was purchased at an average cost of $17.36 per share, for a total transaction 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 approximately $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. 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 Investors Weigh In On Energy Transfer

Several hedge funds have recently modified their holdings of the company. Brighton Jones LLC raised its position in Energy Transfer by 93.4% during 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 during the last quarter. Toronto Dominion Bank purchased a new position in shares of Energy Transfer in the 4th quarter worth approximately $48,426,000. United Advisor Group LLC boosted its stake in shares of Energy Transfer by 3.0% in the 4th quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company's stock worth $363,000 after buying an additional 534 shares during the last quarter. Ameriflex Group Inc. bought a new stake in shares of Energy Transfer in the 4th quarter worth approximately $54,000. Finally, Armis Advisers LLC bought a new stake in Energy Transfer during the 4th quarter valued at $267,000. Institutional investors and hedge funds 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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