Energy Transfer (NYSE:ET) Stock Price Up 2.4% – Time to Buy?

Shares of Energy Transfer LP (NYSE:ET) were up 2.4% during mid-day trading on Thursday . The company traded as high as $18.15 and last traded at $18.08. Approximately 24,251,102 shares were traded during trading, an increase of 51% from the average daily volume of 16,066,183 shares. The stock had previously closed at $17.65.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ET shares. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Barclays restated an “overweight” rating and set a $22.00 price objective (down previously from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Energy Transfer in a research note on Wednesday, December 24th. Morgan Stanley cut their price target on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 2nd. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a report on Friday, January 16th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target of $21.50.

Energy Transfer Stock Down 0.8%

The stock has a market capitalization of $61.68 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 1.50. The business’s 50-day moving average is $16.74 and its two-hundred day moving average is $17.07.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The business had revenue of $19.95 billion during the quarter, compared to analysts’ expectations of $21.84 billion. Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share. Equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were paid a dividend of $0.3325 per share. This represents a $1.33 dividend on an annualized basis and a yield of 7.4%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, November 7th. Energy Transfer’s dividend payout ratio is presently 106.40%.

Insider Activity

In related news, Director Kelcy L. Warren bought 1,000,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was acquired at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the purchase, the director directly owned 104,577,803 shares of the company’s stock, valued at $1,772,593,760.85. The trade was a 0.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CNB Bank grew its holdings in shares of Energy Transfer by 111.1% during the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 1,000 shares during the period. Financial Life Planners acquired a new position in Energy Transfer in the third quarter valued at about $34,000. HHM Wealth Advisors LLC boosted its stake in Energy Transfer by 54.4% during the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock worth $41,000 after buying an additional 800 shares during the period. Crowley Wealth Management Inc. purchased a new position in Energy Transfer during the second quarter worth about $44,000. Finally, Core Alternative Capital acquired a new stake in shares of Energy Transfer during the third quarter valued at about $46,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.