Kelcy Warren Purchases 1,350,000 Shares of Energy Transfer (NYSE:ET) Stock

Key Points

• Kelcy Warren, Director of Energy Transfer, purchased 1.35 million shares at an average price of $17.36, increasing his ownership to 69 million shares valued at over $1.2 billion.
• Energy Transfer declared a quarterly dividend of $0.33 per share, resulting in a yield of 7.5%, while the company's payout ratio currently stands at 102.33%.
• Analysts universally rate Energy Transfer as a Moderate Buy, with an average target price of $22.75, reflecting optimism in the firm's financial outlook despite mixed earnings results.

Energy Transfer LP (NYSE:ET - Get Free Report) Director Kelcy Warren acquired 1,350,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Energy Transfer Stock Performance

NYSE:ET traded up $0.1750 during trading hours on Thursday, reaching $17.5050. The company had a trading volume of 4,268,516 shares, compared to its average volume of 15,488,563. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The firm has a market cap of $60.09 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 0.90 and a beta of 0.83. The firm's 50 day moving average price is $17.71 and its 200-day moving average price is $17.95.

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

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were issued 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 7.5%. The ex-dividend date of this dividend was Friday, August 8th. Energy Transfer's payout ratio is presently 102.33%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ET. United Advisor Group LLC increased 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 acquiring an additional 534 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Energy Transfer by 1.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company's stock valued at $723,000 after buying an additional 565 shares in the last quarter. Indiana Trust & Investment Management Co grew its stake in shares of Energy Transfer by 5.1% in the first quarter. Indiana Trust & Investment Management Co now owns 11,796 shares of the pipeline company's stock valued at $219,000 after buying an additional 576 shares in the last quarter. Beam Wealth Advisors Inc. grew its stake in shares of Energy Transfer by 1.5% in the first quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company's stock valued at $742,000 after buying an additional 585 shares in the last quarter. Finally, Morton Capital Management LLC CA grew its stake in shares of Energy Transfer by 1.3% in the first quarter. Morton Capital Management LLC CA now owns 46,382 shares of the pipeline company's stock valued at $862,000 after buying an additional 593 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on ET shares. Cowen assumed coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating on the stock. JPMorgan Chase & Co. dropped 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. Wells Fargo & Company reiterated an "overweight" rating and issued a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Mizuho lifted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Finally, TD Cowen assumed coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 target price for the company. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Energy Transfer has an average rating of "Moderate Buy" and an average target price of $22.75.

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.

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