Energy Transfer (NYSE:ET) Stock Price Up 1.4%

Energy Transfer LP (NYSE:ET - Get Free Report)'s stock price rose 1.4% during trading on Friday . The company traded as high as $16.22 and last traded at $16.18. Approximately 2,536,694 shares traded hands during trading, a decline of 81% from the average daily volume of 13,516,385 shares. The stock had previously closed at $15.95.

Analyst Upgrades and Downgrades

ET has been the topic of a number of recent analyst reports. Mizuho increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, June 18th. UBS Group raised their price target on Energy Transfer from $23.00 to $24.00 and gave the company a "buy" rating in a report on Wednesday, May 15th. Stifel Nicolaus raised their price target on Energy Transfer from $18.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, May 9th. Morgan Stanley raised their price target on Energy Transfer from $19.00 to $20.00 and gave the company an "overweight" rating in a report on Monday, June 10th. Finally, JPMorgan Chase & Co. raised their price target on Energy Transfer from $19.00 to $20.00 and gave the company an "overweight" rating in a report on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $19.29.

Energy Transfer Trading Up 1.2 %

The company has a market cap of $54.41 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 0.42 and a beta of 1.66. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. The company has a 50-day moving average of $16.04 and a 200 day moving average of $15.59.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business had revenue of $20.73 billion for the quarter, compared to analysts' expectations of $22.01 billion. During the same quarter last year, the firm earned $0.25 EPS. The firm's quarterly revenue was up 13.1% on a year-over-year basis. Analysts predict that Energy Transfer LP will post 1.49 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 7.93%. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's payout ratio is currently 117.43%.

Insider Activity

In related news, CEO Thomas E. Long purchased 20,000 shares of the firm's stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the chief executive officer now owns 4,308,859 shares of the company's stock, valued at approximately $67,562,909.12. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Energy Transfer news, Director Kelcy L. Warren acquired 3,000,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $15.68 per share, with a total value 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 approximately $1,934,686,992. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas E. Long acquired 20,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The stock was acquired 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 directly owns 4,308,859 shares of the company's stock, valued at $67,562,909.12. The disclosure for this purchase can be found here. Insiders own 3.28% of the company's stock.

Hedge Funds Weigh In On Energy Transfer

A number of large investors have recently bought and sold shares of the business. Cetera Investment Advisers grew its holdings in Energy Transfer by 4.2% in the second quarter. Cetera Investment Advisers now owns 1,344,575 shares of the pipeline company's stock worth $21,809,000 after purchasing an additional 54,211 shares during the last quarter. Granite Bay Wealth Management LLC purchased a new position in Energy Transfer in the second quarter worth $1,598,000. Pathway Financial Advisers LLC grew its holdings in Energy Transfer by 4.6% in the second quarter. Pathway Financial Advisers LLC now owns 69,107 shares of the pipeline company's stock worth $1,121,000 after purchasing an additional 3,024 shares during the last quarter. Old North State Trust LLC grew its holdings in Energy Transfer by 8.0% in the second quarter. Old North State Trust LLC now owns 18,946 shares of the pipeline company's stock worth $307,000 after purchasing an additional 1,399 shares during the last quarter. Finally, HWG Holdings LP purchased a new position in Energy Transfer in the second quarter worth $33,000. 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.