Energy Transfer (NYSE:ET) Stock Price Up 0.6% Following Analyst Upgrade

Energy Transfer LP (NYSE:ET)’s stock price was up 0.6% during trading on Wednesday after Royal Bank of Canada raised their price target on the stock from $19.00 to $20.00. Royal Bank of Canada currently has an outperform rating on the stock. Energy Transfer traded as high as $16.48 and last traded at $16.47. Approximately 1,199,445 shares were traded during trading, a decline of 91% from the average daily volume of 13,101,706 shares. The stock had previously closed at $16.37.

A number of other research analysts have also recently issued reports on ET. UBS Group raised 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. Mizuho raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Energy Transfer presently has a consensus rating of “Buy” and an average price target of $20.00.

Insider Transactions at Energy Transfer

In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Gregory G. Mcilwain bought 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the transaction, the executive vice president now owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 3,040,000 shares of company stock worth $47,667,200 over the last 90 days. 3.28% of the stock is currently owned by company insiders.

Institutional Trading of Energy Transfer

Institutional investors have recently modified their holdings of the stock. Secure Asset Management LLC purchased a new position in shares of Energy Transfer in the third quarter worth about $227,000. Good Life Advisors LLC lifted its stake in shares of Energy Transfer by 4.0% in the third quarter. Good Life Advisors LLC now owns 28,723 shares of the pipeline company’s stock worth $461,000 after buying an additional 1,092 shares in the last quarter. Alliance Wealth Advisors LLC purchased a new position in shares of Energy Transfer in the third quarter worth about $395,000. Griffin Asset Management Inc. lifted its stake in shares of Energy Transfer by 1.0% in the third quarter. Griffin Asset Management Inc. now owns 99,221 shares of the pipeline company’s stock worth $1,592,000 after buying an additional 1,008 shares in the last quarter. Finally, Magnus Financial Group LLC lifted its stake in shares of Energy Transfer by 19.0% in the third quarter. Magnus Financial Group LLC now owns 21,455 shares of the pipeline company’s stock worth $344,000 after buying an additional 3,429 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Up 0.2 %

The company’s 50 day moving average price is $16.09 and its two-hundred day moving average price is $15.94. 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 $55.27 billion, a PE ratio of 15.05, a P/E/G ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results 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 business had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. During the same period in the prior year, the business posted $0.25 earnings per share. The business’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, analysts expect that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a dividend of $0.32 per share. The ex-dividend date was Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a yield of 7.80%. Energy Transfer’s payout ratio is 117.43%.

About Energy Transfer

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.