Energy Transfer Sees Unusually High Options Volume (NYSE:ET)

Key Points

• Energy Transfer LP experienced a significant increase in options trading, with 441,447 call options acquired, marking an 814% rise compared to the average daily volume.
• Analysts have adjusted their price targets for Energy Transfer, with estimates ranging from $21.00 to $23.00, while maintaining an overall rating of "Moderate Buy."
• The company recently declared a quarterly dividend of $0.33 per share, reflecting a yield of 7.5%, indicating strong shareholder returns despite fluctuations in stock performance.

Energy Transfer LP (NYSE:ET - Get Free Report) was the recipient of some unusual options trading activity on Thursday. Stock investors acquired 441,447 call options on the stock. Thisrepresentsanincreaseof814% compared to the typical daily volume of 48,301 call options.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ET. TD Cowen began coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 price objective on the stock. Mizuho lifted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Wells Fargo & Company dropped their target price on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. dropped their target price on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Finally, Cowen began coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $22.58.

Energy Transfer Trading Down 1.3%

Shares of NYSE:ET traded down $0.24 during midday trading on Thursday, hitting $17.62. 19,245,786 shares of the stock were exchanged, compared to its average volume of 15,663,121. The stock has a market capitalization of $60.48 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 0.92 and a beta of 0.83. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.92 and a current ratio of 1.12. The business's 50-day moving average price is $17.79 and its 200 day moving average price is $18.18. Energy Transfer has a 12 month low of $14.60 and a 12 month high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The firm had revenue of $19.24 billion for the quarter, compared to analysts' expectations of $24.07 billion. During the same period in the prior year, the business earned $0.35 EPS. The company's revenue for the quarter was down 7.2% compared to the same quarter last year. Analysts predict that Energy Transfer will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be given a dividend of $0.33 per share. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date is Friday, August 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.5%. Energy Transfer's dividend payout ratio is 99.24%.

Insiders Place Their Bets

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the transaction, the director owned 24,523 shares of the company's stock, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Energy Transfer

A number of large investors have recently modified their holdings of the business. Alps Advisors Inc. grew its stake in Energy Transfer by 12.9% in the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock worth $1,400,831,000 after purchasing an additional 8,613,645 shares during the period. Tortoise Capital Advisors L.L.C. grew its position in shares of Energy Transfer by 2.6% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 38,205,495 shares of the pipeline company's stock worth $710,240,000 after purchasing an additional 951,656 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in Energy Transfer by 0.8% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company's stock valued at $449,329,000 after buying an additional 182,705 shares in the last quarter. Energy Income Partners LLC grew its holdings in Energy Transfer by 12.0% during the 1st quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company's stock valued at $429,802,000 after buying an additional 2,471,401 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Energy Transfer by 5.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company's stock worth $387,416,000 after purchasing an additional 1,093,381 shares during the period. 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.

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.