Energy Transfer (NYSE:ET) Trading Up 0.1% – Time to Buy?

Shares of Energy Transfer LP (NYSE:ET) rose 0.1% during mid-day trading on Friday . The company traded as high as $16.44 and last traded at $16.32. Approximately 3,820,242 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 13,204,887 shares. The stock had previously closed at $16.31.

Analyst Ratings Changes

A number of equities research analysts have commented on ET shares. Mizuho increased their target price on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Morgan Stanley upped their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Finally, UBS Group lifted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Energy Transfer currently has an average rating of “Buy” and an average price target of $20.00.

Energy Transfer Price Performance

The company has a 50-day moving average of $16.03 and a two-hundred day moving average of $15.89. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The stock has a market capitalization of $54.93 billion, a PE ratio of 14.95, a P/E/G ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. During the same quarter in the previous year, the company earned $0.25 earnings per share. The company’s revenue was up 13.1% on a year-over-year basis. Sell-side analysts predict that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.85%. The ex-dividend date was Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

Insider Transactions at Energy Transfer

In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 3,040,000 shares of company stock worth $47,667,200 in the last ninety days. Insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. LRI Investments LLC acquired a new position in shares of Energy Transfer during the first quarter worth $29,000. HWG Holdings LP acquired a new position in Energy Transfer in the 2nd quarter worth $33,000. Ables Iannone Moore & Associates Inc. acquired a new position in Energy Transfer in the 4th quarter worth $34,000. Adirondack Trust Co. purchased a new position in Energy Transfer in the 4th quarter valued at about $42,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Energy Transfer during the second quarter valued at about $42,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

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.