Energy Transfer (NYSE:ET) Trading 0.2% Higher

Energy Transfer LP (NYSE:ET - Get Free Report) traded up 0.2% on Wednesday . The company traded as high as $16.12 and last traded at $16.07. 4,559,281 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 13,390,470 shares. The stock had previously closed at $16.03.

Wall Street Analyst Weigh In

Several research analysts have commented on ET shares. JPMorgan Chase & Co. upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an "overweight" rating in a report on Thursday, June 20th. Mizuho raised their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, June 18th. Stifel Nicolaus boosted their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Thursday, May 9th. Morgan Stanley lifted 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. Finally, UBS Group boosted their price target on Energy Transfer from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, May 15th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $19.29.

Energy Transfer Stock Down 0.6 %

The business has a 50-day moving average price of $16.11 and a 200-day moving average price of $15.72. The firm has a market cap of $53.68 billion, a P/E ratio of 14.77, a P/E/G ratio of 0.47 and a beta of 1.66. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $20.73 billion for the quarter, compared to analysts' expectations of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business's quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. On average, equities analysts forecast that Energy Transfer LP will post 1.4 EPS for the current fiscal 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 paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 8.04%. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer's dividend payout ratio (DPR) is 117.43%.

Insider Activity at Energy Transfer

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

Hedge Funds Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently modified their holdings of the business. First Reserve GP XIII Ltd acquired a new position in Energy Transfer in the 4th quarter valued at $322,097,000. Tortoise Capital Advisors L.L.C. boosted its position in shares of Energy Transfer by 12.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company's stock valued at $594,769,000 after acquiring an additional 4,141,715 shares during the last quarter. Clearbridge Investments LLC raised its stake 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 worth $350,845,000 after purchasing an additional 3,976,676 shares during the period. UBS Group AG grew its stake in shares of Energy Transfer by 13.3% in the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company's stock valued at $395,270,000 after buying an additional 3,368,427 shares during the period. Finally, Natixis lifted its holdings in Energy Transfer by 20.0% in the first quarter. Natixis now owns 18,020,559 shares of the pipeline company's stock valued at $283,463,000 after acquiring an additional 2,999,300 shares during 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.