Energy Transfer (NYSE:ET) Trading Up 1.1% – What’s Next?

Energy Transfer LP (NYSE:ET) traded up 1.1% during trading on Wednesday . The stock traded as high as $17.69 and last traded at $17.63. 18,602,455 shares were traded during trading, an increase of 21% from the average session volume of 15,436,677 shares. The stock had previously closed at $17.44.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ET shares. Barclays reissued an “overweight” rating and issued a $22.00 price target (down previously from $25.00) on shares of Energy Transfer in a research report on Monday, January 12th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Royal Bank Of Canada upgraded shares of Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Jefferies Financial Group set a $17.00 target price on shares of Energy Transfer and gave the stock a “hold” rating in a report on Tuesday, October 28th. Finally, Morgan Stanley dropped 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 report on Tuesday, December 2nd. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Energy Transfer Price Performance

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 $16.67 and its two-hundred day moving average is $17.06. The company has a market capitalization of $60.53 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 0.90 and a beta of 0.66.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data 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). The firm had revenue of $19.95 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 earnings per share. As a group, analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were issued a dividend of $0.3325 per share. This represents a $1.33 dividend on an annualized basis and a yield of 7.5%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, November 7th. Energy Transfer’s dividend payout ratio is 106.40%.

Insider Transactions at Energy Transfer

In other Energy Transfer 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 price of $16.95 per share, for a total transaction 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. This trade represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. CNB Bank lifted its position in shares of Energy Transfer by 111.1% during the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 1,000 shares in the last quarter. Financial Life Planners bought a new position in shares of Energy Transfer in 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 buying an additional 800 shares in the last quarter. Crowley Wealth Management Inc. purchased a new position in Energy Transfer in the 2nd quarter worth $44,000. Finally, Core Alternative Capital bought a new stake in Energy Transfer in the third quarter worth $46,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

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.