Energy Transfer (NYSE:ET) Stock Price Up 0.2% - Here's Why

Energy Transfer LP (NYSE:ET - Get Free Report) shot up 0.2% during trading on Wednesday . The company traded as high as $17.13 and last traded at $17.08. 2,888,980 shares were traded during trading, a decline of 78% from the average session volume of 13,244,215 shares. The stock had previously closed at $17.05.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ET shares. Bank of America began coverage on Energy Transfer in a report on Thursday, October 17th. They issued a "buy" rating and a $20.00 price objective for the company. Royal Bank of Canada lifted their price target 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, UBS Group lifted their target price on Energy Transfer from $22.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $20.00.

Energy Transfer Price Performance

The business has a fifty day moving average price of $16.35 and a 200 day moving average price of $16.07. The company has a market capitalization of $58.45 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.52 and a beta of 1.66. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion during the quarter, compared to analysts' expectations of $21.59 billion. During the same period last year, the company posted $0.31 earnings per share. The firm's quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts expect 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. Stockholders of record on Friday, November 8th will be issued a dividend of $0.3225 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 7.56%. Energy Transfer's dividend payout ratio (DPR) is presently 94.85%.

Insiders Place Their Bets

In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of Energy Transfer stock in a transaction dated 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 completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.28% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ET. Fortis Capital Management LLC grew its holdings in Energy Transfer by 2.0% during the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company's stock valued at $513,000 after buying an additional 634 shares in the last quarter. Princeton Global Asset Management LLC raised its position in Energy Transfer by 65.0% during 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 during the last quarter. Veracity Capital LLC grew its position in Energy Transfer by 2.0% during the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company's stock worth $545,000 after purchasing an additional 659 shares during the period. Haverford Trust Co lifted its holdings in Energy Transfer by 0.7% in the third quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company's stock valued at $1,640,000 after acquiring an additional 675 shares during the period. Finally, Morton Capital Management LLC CA increased its holdings in shares of Energy Transfer by 1.6% during the 2nd quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company's stock valued at $720,000 after purchasing an additional 699 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other 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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