Energy Transfer (NYSE:ET) Trading 1% Higher – What’s Next?

Energy Transfer LP (NYSE:ET)’s share price shot up 1% on Monday . The company traded as high as $17.51 and last traded at $17.47. 3,971,477 shares were traded during mid-day trading, a decline of 70% from the average session volume of 13,316,592 shares. The stock had previously closed at $17.29.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Bank of America began 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 on the stock. UBS Group upped their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Stock Performance

The company has a market capitalization of $60.16 billion, a P/E ratio of 12.85, a P/E/G ratio of 0.53 and a beta of 1.66. The business’s fifty day simple moving average is $16.42 and its 200-day simple moving average is $16.10. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.92 and a current ratio of 1.08.

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, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter last year, the firm earned $0.31 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts anticipate that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be given a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 7.34%. The ex-dividend date of this dividend is Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

Insider Activity

In related news, EVP Gregory G. Mcilwain bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This trade represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Energy Transfer

A number of hedge funds and other institutional investors have recently made changes to their positions in ET. Princeton Global Asset Management LLC raised its position in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after buying an additional 1,668 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Energy Transfer during the first quarter worth $29,000. HWG Holdings LP acquired a new stake in Energy Transfer in the 2nd quarter worth about $33,000. Finally, Sugarloaf Wealth Management LLC raised its stake in Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares during the period. Hedge funds and other 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.