Energy Transfer (NYSE:ET) Shares Up 0.3% - What's Next?

Energy Transfer LP (NYSE:ET - Get Free Report) shot up 0.3% during trading on Monday . The stock traded as high as $17.39 and last traded at $17.36. 4,987,174 shares were traded during trading, a decline of 62% from the average session volume of 13,234,689 shares. The stock had previously closed at $17.30.

Wall Street Analysts Forecast Growth

ET has been the subject of a number of research reports. UBS Group raised their price target 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. Royal Bank of Canada boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Finally, Bank of America initiated coverage on Energy Transfer in a report on Thursday, October 17th. They issued a "buy" rating and a $20.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $20.00.

Energy Transfer Trading Down 0.7 %

The firm has a 50 day moving average of $16.30 and a 200 day moving average of $16.05. The firm has a market cap of $58.79 billion, a PE ratio of 12.76, a P/E/G ratio of 0.53 and a beta of 1.66. 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 posted its 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 firm had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.64%. The company's revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $0.31 earnings per share. Equities analysts anticipate that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.51%. Energy Transfer's dividend payout ratio (DPR) is currently 94.12%.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of the firm's stock in a transaction on Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the executive vice president now directly owns 591,211 shares of the company's stock, valued at $9,270,188.48. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.28% of the company's stock.

Hedge Funds Weigh In On Energy Transfer

Several institutional investors have recently modified their holdings of ET. Concurrent Investment Advisors LLC boosted its position in Energy Transfer by 1.8% during the first quarter. Concurrent Investment Advisors LLC now owns 59,694 shares of the pipeline company's stock valued at $939,000 after buying an additional 1,043 shares during the period. Headlands Technologies LLC bought a new position in Energy Transfer during the 1st quarter worth approximately $86,000. Eagle Bay Advisors LLC purchased a new position in Energy Transfer in the 1st quarter worth approximately $66,000. Texas Yale Capital Corp. lifted its position in Energy Transfer by 0.9% in the first quarter. Texas Yale Capital Corp. now owns 1,157,471 shares of the pipeline company's stock valued at $18,207,000 after purchasing an additional 10,400 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in shares of Energy Transfer by 17.1% during the first quarter. Kingsview Wealth Management LLC now owns 143,825 shares of the pipeline company's stock valued at $2,262,000 after purchasing an additional 20,961 shares during the period. 38.22% of the stock is currently owned by institutional investors.

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.

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