Energy Transfer (NYSE:ET) Trading Up 0.6% - Here's What Happened

Energy Transfer LP (NYSE:ET - Get Free Report)'s share price was up 0.6% during trading on Thursday . The company traded as high as $17.22 and last traded at $17.20. Approximately 2,266,500 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 13,322,969 shares. The stock had previously closed at $17.10.

Wall Street Analyst Weigh In

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

Energy Transfer Stock Performance

The business's fifty day moving average price is $16.37 and its 200-day moving average price is $16.08. The stock has a market capitalization of $58.79 billion, a PE ratio of 12.65, a P/E/G 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 issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. The company had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm's revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 earnings per share. As a group, equities research analysts expect that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 7.51%. The ex-dividend date is Friday, November 8th. Energy Transfer's dividend payout ratio (DPR) is currently 94.85%.

Insider Activity at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain acquired 20,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 3.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ET. Headlands Technologies LLC purchased a new stake in Energy Transfer in the first quarter worth about $86,000. Kingsview Wealth Management LLC raised its holdings in Energy Transfer by 17.1% in the first quarter. Kingsview Wealth Management LLC now owns 143,825 shares of the pipeline company's stock worth $2,262,000 after purchasing an additional 20,961 shares in the last quarter. Forum Financial Management LP lifted its position in Energy Transfer by 3.4% during the first quarter. Forum Financial Management LP now owns 119,075 shares of the pipeline company's stock valued at $1,873,000 after buying an additional 3,929 shares during the period. Anthracite Investment Company Inc. lifted its position in Energy Transfer by 8.4% during the first quarter. Anthracite Investment Company Inc. now owns 259,210 shares of the pipeline company's stock valued at $4,077,000 after buying an additional 20,000 shares during the period. Finally, Nwam LLC boosted its holdings in shares of Energy Transfer by 36.6% during the 1st quarter. Nwam LLC now owns 26,526 shares of the pipeline company's stock valued at $427,000 after buying an additional 7,102 shares in the last quarter. 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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