Energy Transfer (NYSE:ET) Trading 0.1% Higher

Shares of Energy Transfer LP (NYSE:ET - Get Free Report) shot up 0.1% during mid-day trading on Friday . The company traded as high as $16.02 and last traded at $15.98. 2,000,654 shares traded hands during trading, a decline of 85% from the average session volume of 13,408,101 shares. The stock had previously closed at $15.96.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ET. JPMorgan Chase & Co. boosted 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. Morgan Stanley upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an "overweight" rating in a report on Monday, June 10th. UBS Group upped their price objective 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 upped 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. Finally, Mizuho upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, June 18th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.29.

Energy Transfer Stock Up 0.8 %

The stock has a market capitalization of $54.24 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 0.42 and a beta of 1.66. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The firm has a 50-day moving average of $16.10 and a two-hundred day moving average of $15.66.

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

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a $0.32 dividend. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.95%. The ex-dividend date was Friday, August 9th. Energy Transfer's dividend payout ratio is presently 117.43%.

Insiders Place Their Bets

In related news, Director Kelcy L. Warren acquired 3,000,000 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the acquisition, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Energy Transfer news, CEO Thomas E. Long bought 20,000 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kelcy L. Warren bought 3,000,000 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. The disclosure for this purchase can be found here. Insiders have bought a total of 3,040,000 shares of company stock valued at $47,667,200 in the last three months. Insiders own 3.28% of the company's stock.

Institutional Trading of Energy Transfer

A number of hedge funds have recently modified their holdings of ET. Northwest Financial Advisors bought a new stake in shares of Energy Transfer in the 4th quarter worth approximately $25,000. LRI Investments LLC bought a new position in shares of Energy Transfer during the 1st quarter worth approximately $29,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Energy Transfer during the 4th quarter worth approximately $33,000. HWG Holdings LP bought a new position in shares of Energy Transfer during the 2nd quarter worth approximately $33,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of Energy Transfer during the 4th quarter worth approximately $34,000. Institutional investors own 38.22% of the company's stock.

About Energy Transfer

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.