Energy Transfer Sees Unusually Large Options Volume (NYSE:ET)

Energy Transfer LP (NYSE:ET - Get Free Report) was the target of unusually large options trading on Wednesday. Stock traders acquired 208,005 call options on the stock. This is an increase of 177% compared to the typical volume of 75,152 call options.

Wall Street Analysts Forecast Growth

ET has been the topic of several research reports. Royal Bank of Canada upped their price objective 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 initiated coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a "buy" rating and a $20.00 price target on the stock. Finally, UBS Group lifted their price objective 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 analysts have rated the stock with a buy rating, Based on data from MarketBeat, Energy Transfer has an average rating of "Buy" and a consensus target price of $20.00.

Insider Transactions at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of the 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 purchase, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. The trade was a 3.50 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.28% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Fortis Capital Management LLC raised its position in Energy Transfer by 2.0% in the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company's stock worth $513,000 after purchasing an additional 634 shares during the last quarter. Princeton Global Asset Management LLC grew its position in shares of Energy Transfer by 65.0% in the 3rd 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 period. Veracity Capital LLC raised its holdings in shares of Energy Transfer by 2.0% during the second quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company's stock worth $545,000 after acquiring an additional 659 shares during the period. Haverford Trust Co boosted its position in shares of Energy Transfer by 0.7% during the third quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company's stock worth $1,640,000 after buying an additional 675 shares during the period. Finally, Morton Capital Management LLC CA grew its position in Energy Transfer by 1.6% in the second 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. Institutional investors own 38.22% of the company's stock.

Energy Transfer Price Performance

NYSE ET traded up $0.33 during trading on Wednesday, reaching $18.29. 28,416,731 shares of the company traded hands, compared to its average volume of 13,482,127. Energy Transfer has a 1-year low of $13.11 and a 1-year high of $18.37. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The stock's 50 day moving average price is $16.50 and its two-hundred day moving average price is $16.13. The company has a market cap of $62.62 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 0.53 and a beta of 1.66.

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

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 7.05%. Energy Transfer's dividend payout ratio (DPR) is presently 94.85%.

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.