Energy Transfer (NYSE:ET) Trading Up 1.4% – What’s Next?

Energy Transfer LP (NYSE:ET)’s stock price rose 1.4% during trading on Tuesday . The stock traded as high as $17.84 and last traded at $17.83. Approximately 6,089,754 shares traded hands during trading, a decline of 54% from the average daily volume of 13,338,400 shares. The stock had previously closed at $17.58.

Analyst Ratings Changes

ET has been the subject of several analyst reports. Royal Bank of Canada lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Bank of America initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Finally, UBS Group lifted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Price Performance

The company’s fifty day moving average price is $16.45 and its two-hundred day moving average price is $16.11. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a market cap of $61.29 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 0.53 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period in the prior year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts forecast that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be paid a $0.3225 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 7.21%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Insiders Place Their Bets

In related news, EVP Gregory G. Mcilwain bought 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The trade was a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently added to or reduced their stakes in ET. Princeton Global Asset Management LLC increased its holdings in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares in the last quarter. Assetmark Inc. grew its position in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares during the last quarter. LRI Investments LLC acquired a new position in Energy Transfer in the 1st quarter worth about $29,000. HWG Holdings LP bought a new position in Energy Transfer in the second quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC boosted its stake in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares in the last quarter. 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.