Energy Transfer (NYSE:ET) Sets New 1-Year High - Here's Why

Energy Transfer LP (NYSE:ET - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.73 and last traded at $17.71, with a volume of 2075487 shares. The stock had previously closed at $17.58.

Wall Street Analyst Weigh In

A number of research firms have commented on ET. UBS Group upped their price target on Energy Transfer from $22.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Bank of America initiated coverage on Energy Transfer in a report on Thursday, October 17th. They set a "buy" rating and a $20.00 target price for the company. Finally, Royal Bank of Canada lifted their price target 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 analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $20.00.

Energy Transfer Trading Up 2.2 %

The stock's fifty day simple moving average is $16.45 and its two-hundred day simple moving average is $16.11. The firm has a market cap of $61.49 billion, a PE ratio of 13.11, a PEG ratio of 0.53 and a beta of 1.66. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 EPS. On average, sell-side analysts forecast that Energy Transfer LP will post 1.34 EPS 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. Stockholders of record on Friday, November 8th will be given a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 7.18%. The ex-dividend date is Friday, November 8th. Energy Transfer's dividend payout ratio is presently 94.85%.

Insider Buying and Selling

In other Energy Transfer news, EVP Gregory G. Mcilwain acquired 20,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Princeton Global Asset Management LLC increased its holdings in Energy Transfer by 65.0% in the 3rd 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 stake in shares of Energy Transfer by 2,138.5% in the third 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 period. LRI Investments LLC purchased a new position in shares of Energy Transfer during the first quarter valued at approximately $29,000. HWG Holdings LP purchased a new position in shares of Energy Transfer during the second quarter valued at approximately $33,000. Finally, Continuum Advisory LLC lifted its position in Energy Transfer by 44.8% during the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company's stock valued at $40,000 after purchasing an additional 729 shares during the period. Hedge funds and other institutional investors own 38.22% of the company's stock.

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.