Energy Transfer (NYSE:ET) Stock Price Up 1% - Time to Buy?

Energy Transfer LP (NYSE:ET - Get Free Report) was up 1% on Monday . The stock traded as high as $17.51 and last traded at $17.47. Approximately 3,971,477 shares changed hands during trading, a decline of 70% from the average daily volume of 13,316,592 shares. The stock had previously closed at $17.29.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ET shares. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Bank of America assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a "buy" rating and a $20.00 target price for the company. Finally, UBS Group boosted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $20.00.

Energy Transfer Stock Up 1.6 %

The company has a 50-day simple moving average of $16.42 and a 200 day simple moving average of $16.10. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.40. The company has a market cap 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.

Energy Transfer (NYSE:ET - Get Free Report) 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 company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period in the prior year, the company posted $0.31 EPS. The firm's quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current 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 is Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 7.34%. Energy Transfer's dividend payout ratio is presently 94.85%.

Insider Activity at Energy Transfer

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the business's stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. This represents a 3.50 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Princeton Global Asset Management LLC grew its stake 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 purchasing an additional 650 shares in the last quarter. Assetmark Inc. raised its position 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 valued at $28,000 after purchasing an additional 1,668 shares during the period. LRI Investments LLC acquired a new stake in Energy Transfer in the 1st quarter valued at approximately $29,000. HWG Holdings LP acquired a new position in Energy Transfer in the 2nd quarter valued at approximately $33,000. Finally, Sugarloaf Wealth Management LLC increased its stake in Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company's stock valued at $40,000 after acquiring 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.

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