Energy Transfer (NYSE:ET) Shares Up 1.5% – Here’s Why

Energy Transfer LP (NYSE:ETGet Free Report) shares rose 1.5% on Thursday . The company traded as high as $18.60 and last traded at $18.5130. Approximately 17,217,920 shares traded hands during mid-day trading, an increase of 7% from the average daily volume of 16,050,618 shares. The stock had previously closed at $18.24.

More Energy Transfer News

Here are the key news stories impacting Energy Transfer this week:

Analysts Set New Price Targets

Several analysts have issued reports on ET shares. Royal Bank Of Canada raised shares of Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Barclays reissued an “overweight” rating and issued a $22.00 target price (down from $25.00) on shares of Energy Transfer in a research report on Monday, January 12th. Weiss Ratings restated a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. JPMorgan Chase & Co. lowered their price target on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Finally, Jefferies Financial Group set a $17.00 target price on Energy Transfer and gave the company a “hold” rating in a research note on Tuesday, October 28th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $21.50.

Get Our Latest Stock Report on ET

Energy Transfer Price Performance

The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.14 and a current ratio of 1.41. The stock has a 50 day moving average of $16.81 and a two-hundred day moving average of $17.07. The firm has a market capitalization of $63.56 billion, a P/E ratio of 14.81, a P/E/G ratio of 0.94 and a beta of 0.66.

Energy Transfer (NYSE:ETGet Free Report) last issued its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.06). The business had revenue of $19.95 billion for the quarter, compared to analyst estimates of $21.84 billion. Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. Energy Transfer’s revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. Sell-side analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Friday, February 6th will be given a dividend of $0.335 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 annualized dividend and a dividend yield of 7.2%. The ex-dividend date of this dividend is Friday, February 6th. Energy Transfer’s payout ratio is currently 107.20%.

Insider Buying and Selling

In related news, Director Kelcy L. Warren acquired 1,000,000 shares of Energy Transfer stock in a transaction on Wednesday, November 19th. The stock was purchased at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the transaction, the director directly owned 104,577,803 shares in the company, valued at $1,772,593,760.85. This trade represents a 0.97% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently bought and sold shares of ET. Simon Quick Advisors LLC boosted its holdings in shares of Energy Transfer by 346.0% during the 4th quarter. Simon Quick Advisors LLC now owns 53,680 shares of the pipeline company’s stock valued at $885,000 after acquiring an additional 41,644 shares in the last quarter. Huntleigh Advisors Inc. raised its position in shares of Energy Transfer by 1.6% in the 4th quarter. Huntleigh Advisors Inc. now owns 113,689 shares of the pipeline company’s stock worth $1,875,000 after acquiring an additional 1,809 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Energy Transfer by 0.3% in the fourth quarter. Sanctuary Advisors LLC now owns 1,630,707 shares of the pipeline company’s stock valued at $26,890,000 after buying an additional 4,877 shares during the period. Advisors Capital Management LLC boosted its stake in Energy Transfer by 3.1% during the fourth quarter. Advisors Capital Management LLC now owns 517,285 shares of the pipeline company’s stock worth $8,530,000 after acquiring an additional 15,635 shares in the last quarter. Finally, Stockman Wealth Management Inc. increased its stake in Energy Transfer by 7.6% in the fourth quarter. Stockman Wealth Management Inc. now owns 69,266 shares of the pipeline company’s stock valued at $1,142,000 after purchasing an additional 4,900 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

About Energy Transfer

(Get Free Report)

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.

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