Energy Transfer (NYSE:ET) Trading 2.1% Higher – Here’s Why

Energy Transfer LP (NYSE:ET)’s share price rose 2.1% during mid-day trading on Thursday . The stock traded as high as $16.91 and last traded at $16.8750. Approximately 18,245,709 shares were traded during mid-day trading, an increase of 12% from the average daily volume of 16,233,324 shares. The stock had previously closed at $16.52.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ET shares. Morgan Stanley decreased their target price on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 2nd. Barclays restated an “overweight” rating and set a $25.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. JPMorgan Chase & Co. lowered their price objective on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Scotiabank cut their target price on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a research report on Thursday, November 13th. Finally, Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.75.

Energy Transfer Price Performance

The stock has a fifty day moving average of $16.58 and a two-hundred day moving average of $17.10. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $57.94 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.85 and a beta of 0.66.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The business had revenue of $19.95 billion during the quarter, compared to analyst estimates of $21.84 billion. During the same period in the prior year, the firm posted $0.32 EPS. Energy Transfer’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share 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 given a $0.3325 dividend. This represents a $1.33 annualized dividend and a yield of 7.9%. The ex-dividend date was Friday, November 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is 106.40%.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren bought 1,000,000 shares of Energy Transfer stock in a transaction dated Wednesday, November 19th. The shares were bought at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the transaction, the director owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ET. Ryan Investment Management Inc. acquired a new stake in shares of Energy Transfer during the 2nd quarter worth approximately $31,000. CNB Bank grew its holdings in 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 acquiring an additional 1,000 shares during the period. Financial Life Planners acquired a new stake in Energy Transfer during the 3rd quarter worth $34,000. HHM Wealth Advisors LLC raised its position in shares of Energy Transfer by 54.4% during the 2nd quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 800 shares during the last quarter. Finally, Crowley Wealth Management Inc. bought a new stake in shares of Energy Transfer during the 2nd quarter valued at $44,000. Institutional investors 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.