Energy Transfer (NYSE:ET) Trading Up 0.6% Following Insider Buying Activity

Energy Transfer LP (NYSE:ET - Get Free Report)'s stock price shot up 0.6% on Monday after an insider bought additional shares in the company. The stock traded as high as $16.31 and last traded at $16.25. 2,336,360 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 13,484,834 shares. The stock had previously closed at $16.15.

Specifically, EVP Gregory G. Mcilwain bought 20,000 shares of the company's stock in a transaction on Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the executive vice president now directly owns 591,211 shares of the company's stock, valued at $9,270,188.48. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Analyst Ratings Changes

A number of analysts recently issued reports on ET shares. UBS Group boosted 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. JPMorgan Chase & Co. increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday, June 20th. Stifel Nicolaus lifted their price objective on Energy Transfer from $18.00 to $19.00 and gave the company a "buy" rating in a report on Thursday, May 9th. Mizuho increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, June 18th. Finally, Morgan Stanley boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an "overweight" rating in a report on Monday, June 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.29.

Energy Transfer Trading Down 0.2 %

The company has a 50 day moving average of $16.06 and a two-hundred day moving average of $15.63. The stock has a market capitalization of $54.32 billion, a PE ratio of 14.75, a P/E/G ratio of 0.42 and a beta of 1.66. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18.

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 for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). The business had revenue of $20.73 billion for the quarter, compared to analysts' expectations of $22.01 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. Energy Transfer's revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 EPS. Sell-side analysts predict that Energy Transfer LP will post 1.49 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed 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 is an increase from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a dividend yield of 7.94%. The ex-dividend date was Friday, August 9th. Energy Transfer's payout ratio is presently 117.43%.

Institutional Investors Weigh In On Energy Transfer

A number of large investors have recently made changes to their positions in the stock. First Reserve GP XIII Ltd purchased a new position in Energy Transfer during the 4th quarter worth approximately $322,097,000. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Energy Transfer by 12.7% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company's stock worth $594,769,000 after purchasing an additional 4,141,715 shares during the last quarter. Clearbridge Investments LLC lifted its position in Energy Transfer by 18.5% during the fourth quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company's stock valued at $350,845,000 after purchasing an additional 3,976,676 shares during the period. UBS Group AG boosted its holdings in Energy Transfer by 13.3% in the fourth quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company's stock valued at $395,270,000 after purchasing an additional 3,368,427 shares during the last quarter. Finally, Natixis grew its position in Energy Transfer by 20.0% during the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company's stock worth $283,463,000 after purchasing an additional 2,999,300 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

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.