Energy Transfer (NYSE:ET) Stock Price Up 0.6% – Here’s Why

Energy Transfer LP (NYSE:ET) shares rose 0.6% during trading on Thursday . The stock traded as high as $17.22 and last traded at $17.20. Approximately 2,266,500 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 13,322,969 shares. The stock had previously closed at $17.10.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Bank of America began coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. UBS Group upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Royal Bank of Canada raised their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Stock Performance

The company’s 50-day simple moving average is $16.42 and its 200-day simple moving average is $16.09. The stock has a market cap of $59.18 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 0.52 and a beta of 1.66. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 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 12.38% and a net margin of 5.90%. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period in the previous year, the firm earned $0.31 earnings per share. Energy Transfer’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts predict that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 7.46%. The ex-dividend date is Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 94.85%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain acquired 20,000 shares of Energy Transfer stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the purchase, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. The trade was a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Energy Transfer

Large investors have recently made changes to their positions in the business. Nwam LLC increased its stake in Energy Transfer by 36.6% in the 1st quarter. Nwam LLC now owns 26,526 shares of the pipeline company’s stock valued at $427,000 after buying an additional 7,102 shares during the period. Nicolet Advisory Services LLC increased its stake in shares of Energy Transfer by 48.8% in the first quarter. Nicolet Advisory Services LLC now owns 17,464 shares of the pipeline company’s stock worth $275,000 after acquiring an additional 5,730 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of Energy Transfer by 29.8% during the first quarter. Osaic Holdings Inc. now owns 3,653,456 shares of the pipeline company’s stock worth $57,469,000 after acquiring an additional 838,834 shares in the last quarter. Cercano Management LLC boosted its position in Energy Transfer by 78.2% during the first quarter. Cercano Management LLC now owns 438,495 shares of the pipeline company’s stock valued at $6,898,000 after purchasing an additional 192,370 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC grew its stake in Energy Transfer by 1,166.7% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 12,160 shares of the pipeline company’s stock valued at $191,000 after purchasing an additional 11,200 shares in the last quarter. 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.