Energy Transfer (NYSE:ET) Trading 1.4% Higher - Time to Buy?

Energy Transfer LP (NYSE:ET - Get Free Report)'s stock price traded up 1.4% during mid-day trading on Tuesday . The stock traded as high as $17.84 and last traded at $17.83. 6,089,754 shares were traded during trading, a decline of 54% from the average session volume of 13,338,400 shares. The stock had previously closed at $17.58.

Analyst Ratings Changes

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

Energy Transfer Stock Up 1.8 %

The stock has a market cap of $61.29 billion, a P/E 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. The business has a 50-day simple moving average of $16.45 and a 200-day simple moving average of $16.11.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts' consensus estimates of $0.32. The business had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer's revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 earnings per share. Analysts expect that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be paid a $0.3225 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.21%. Energy Transfer's payout ratio is 94.85%.

Insider Activity at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain acquired 20,000 shares of the business's stock in a transaction on 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 transaction, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. This trade represents a 3.50 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Energy Transfer

Hedge funds have recently added to or reduced their stakes in the stock. Princeton Global Asset Management LLC grew its stake in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company's stock valued at $26,000 after purchasing an additional 650 shares during the last quarter. Assetmark Inc. boosted its position in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock valued at $28,000 after buying an additional 1,668 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Energy Transfer in the 1st quarter valued at $29,000. HWG Holdings LP bought a new stake in shares of Energy Transfer during the second quarter worth $33,000. Finally, Continuum Advisory LLC lifted its stake in shares of 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 acquiring an additional 729 shares during the period. 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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