Energy Transfer LP (NYSE:ET - Get Free Report) shares traded up 1.7% during trading on Tuesday . The company traded as high as $16.83 and last traded at $16.79. 6,638,348 shares were traded during mid-day trading, a decline of 49% from the average session volume of 12,966,402 shares. The stock had previously closed at $16.51.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Bank of America assumed coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a "buy" rating and a $20.00 target price on the stock. Finally, UBS Group raised their target price on Energy Transfer from $22.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $20.00.
Check Out Our Latest Analysis on ET
Energy Transfer Stock Performance
The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. The firm's fifty day moving average price is $16.22 and its 200 day moving average price is $16.02. The stock has a market capitalization of $57.80 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66.
Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). The firm had revenue of $20.73 billion during the quarter, compared to analysts' expectations of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The firm's revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 EPS. Analysts forecast that Energy Transfer LP will post 1.35 EPS for the current fiscal year.
Energy Transfer Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be issued a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 7.64%. The ex-dividend date is Friday, November 8th. Energy Transfer's payout ratio is 107.56%.
Insider Activity at Energy Transfer
In other Energy Transfer news, CEO Thomas E. Long acquired 20,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the purchase, the chief executive officer now owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the company's stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the purchase, the director now directly owns 123,385,650 shares of the company's stock, valued at $1,934,686,992. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas E. Long acquired 20,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the chief executive officer now owns 4,308,859 shares of the company's stock, valued at $67,562,909.12. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 3,040,000 shares of company stock worth $47,667,200 over the last three months. 3.28% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Energy Transfer
Hedge funds have recently bought and sold shares of the company. Aptus Capital Advisors LLC lifted its position in Energy Transfer by 1.7% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,118,458 shares of the pipeline company's stock valued at $17,951,000 after purchasing an additional 18,640 shares during the last quarter. GSA Capital Partners LLP boosted its stake in Energy Transfer by 59.5% during the 3rd quarter. GSA Capital Partners LLP now owns 89,357 shares of the pipeline company's stock valued at $1,434,000 after purchasing an additional 33,342 shares in the last quarter. Harbour Investments Inc. raised its stake in shares of Energy Transfer by 0.9% in the 3rd quarter. Harbour Investments Inc. now owns 119,523 shares of the pipeline company's stock worth $1,918,000 after buying an additional 1,066 shares in the last quarter. Apollon Wealth Management LLC raised its position in Energy Transfer by 5.0% in the third quarter. Apollon Wealth Management LLC now owns 282,705 shares of the pipeline company's stock worth $4,537,000 after acquiring an additional 13,590 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its holdings in Energy Transfer by 5.6% during the third quarter. Nations Financial Group Inc. IA ADV now owns 319,141 shares of the pipeline company's stock worth $5,122,000 after buying an additional 17,021 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.
Energy Transfer Company Profile
(
Get Free Report)
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.
Featured Articles
Before you consider Energy Transfer, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Energy Transfer wasn't on the list.
While Energy Transfer currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
