Energy Transfer (NYSE:ET) Director Kelcy Warren Buys 1,000,000 Shares

Energy Transfer LP (NYSE:ET) Director Kelcy Warren acquired 1,000,000 shares of the stock in a transaction on Wednesday, November 19th. The stock was bought at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the transaction, the director owned 104,577,803 shares in the company, valued at approximately $1,772,593,760.85. This represents a 0.97% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Energy Transfer Trading Down 1.7%

Shares of Energy Transfer stock opened at $16.63 on Friday. The firm has a 50-day simple moving average of $16.91 and a two-hundred day simple moving average of $17.40. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The company has a market cap of $57.08 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 1.01 and a beta of 0.76.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company 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 business posted $0.32 EPS. Energy Transfer’s revenue was down 3.9% compared to the same quarter last year. As a group, equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Friday, November 7th were paid a $0.3325 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.33 annualized dividend and a dividend yield of 8.0%. Energy Transfer’s dividend payout ratio is currently 106.40%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Barclays reissued an “overweight” rating and issued a $25.00 target price on shares of Energy Transfer in a research report on Wednesday, October 15th. Wells Fargo & Company reissued an “overweight” rating and issued a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. UBS Group reiterated a “buy” rating and issued a $22.00 price objective on shares of Energy Transfer in a research note on Wednesday, October 15th. Scotiabank cut their price target on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a report on Thursday, November 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and an average target price of $22.08.

Institutional Trading of Energy Transfer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ET. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Energy Transfer by 1.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company’s stock valued at $723,000 after purchasing an additional 565 shares during the last quarter. Indiana Trust & Investment Management Co increased its stake in Energy Transfer by 5.1% during the first quarter. Indiana Trust & Investment Management Co now owns 11,796 shares of the pipeline company’s stock worth $219,000 after acquiring an additional 576 shares during the last quarter. Beam Wealth Advisors Inc. raised its holdings in shares of Energy Transfer by 1.5% in the 1st quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company’s stock worth $742,000 after purchasing an additional 585 shares during the period. Bogart Wealth LLC lifted its stake in shares of Energy Transfer by 1.9% in the 2nd quarter. Bogart Wealth LLC now owns 32,788 shares of the pipeline company’s stock valued at $594,000 after purchasing an additional 604 shares in the last quarter. Finally, MCF Advisors LLC grew its holdings in shares of Energy Transfer by 7.2% during the 2nd quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 616 shares during the period. 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.