Energy Transfer (NYSE:ET) Sets New 12-Month High - What's Next?

Energy Transfer LP (NYSE:ET - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $16.68 and last traded at $16.66, with a volume of 230640 shares trading hands. The stock had previously closed at $16.51.

Analyst Ratings Changes

A number of research firms recently commented on ET. Royal Bank of Canada increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a "buy" rating and a $20.00 price target on the stock. Finally, 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. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Energy Transfer presently has an average rating of "Buy" and an average target price of $20.00.

Energy Transfer Trading Up 2.3 %

The firm has a market capitalization of $57.80 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 0.50 and a beta of 1.66. The business has a 50-day moving average of $16.22 and a two-hundred day moving average of $16.02. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). The company had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 earnings per share. Research analysts predict that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be given a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 7.64%. The ex-dividend date is Friday, November 8th. Energy Transfer's dividend payout ratio (DPR) is presently 107.56%.

Insider Buying and Selling

In related news, EVP Gregory G. Mcilwain acquired 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 transaction, the executive vice president now directly owns 591,211 shares of the company's stock, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Energy Transfer news, Director Kelcy L. Warren bought 3,000,000 shares of the company's stock in a transaction on Monday, August 12th. The stock was bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the transaction, the director now owns 123,385,650 shares of the company's stock, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregory G. Mcilwain bought 20,000 shares of the company's stock in a transaction on Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 3,040,000 shares of company stock worth $47,667,200 in the last quarter. Insiders own 3.28% of the company's stock.

Institutional Trading of Energy Transfer

A number of large investors have recently made changes to their positions in ET. Tortoise Capital Advisors L.L.C. boosted its stake in Energy Transfer by 12.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company's stock worth $594,769,000 after purchasing an additional 4,141,715 shares during the period. Natixis lifted its stake in Energy Transfer by 20.0% in the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company's stock valued at $283,463,000 after purchasing an additional 2,999,300 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in Energy Transfer by 1.1% during the second quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company's stock worth $261,263,000 after acquiring an additional 171,720 shares during the last quarter. Chickasaw Capital Management LLC lifted its position in Energy Transfer by 3.1% during the third quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company's stock worth $246,376,000 after acquiring an additional 466,565 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in Energy Transfer by 7.9% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,293,510 shares of the pipeline company's stock worth $117,061,000 after acquiring an additional 536,047 shares during 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.