Energy Transfer (NYSE:ET) Issues Earnings Results

by · The Cerbat Gem

Energy Transfer (NYSE:ET – Get Free Report) issued its quarterly earnings data on Wednesday. The pipeline company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06), FiscalAI reports. The company had revenue of $19.95 billion for the quarter, compared to the consensus estimate of $21.84 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 earnings per share.

Energy Transfer Stock Performance

Energy Transfer stock traded down $0.05 during trading on Thursday, hitting $16.86. The stock had a trading volume of 22,779,469 shares, compared to its average volume of 14,870,863. Energy Transfer has a 1 year low of $14.60 and a 1 year high of $21.45. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The stock’s 50 day moving average is $17.08 and its two-hundred day moving average is $17.42. The stock has a market cap of $57.88 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.01 and a beta of 0.76.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Friday, November 7th will be paid a $0.3325 dividend. The ex-dividend date is Friday, November 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 annualized dividend and a yield of 7.9%. Energy Transfer’s dividend payout ratio (DPR) is currently 103.10%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the acquisition, the director directly owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. The trade was a 1.99% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.28% of the stock is owned by insiders.

Institutional Trading of Energy Transfer

Several institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in shares of Energy Transfer by 93.4% during the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after purchasing an additional 11,844 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Energy Transfer by 62.8% during the 1st quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock worth $391,000 after acquiring an additional 8,118 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Energy Transfer by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock worth $2,455,000 after acquiring an additional 7,901 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Energy Transfer by 436.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock valued at $76,000 after buying an additional 3,400 shares in the last quarter. Finally, Guggenheim Capital LLC increased its holdings in Energy Transfer by 5.6% in the 2nd quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company’s stock valued at $923,000 after acquiring an additional 2,700 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wells Fargo & Company reissued an “overweight” rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Barclays reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Energy Transfer in a report on Wednesday, October 15th. Morgan Stanley reduced their target price on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Jefferies Financial Group set a $17.00 target price on Energy Transfer and gave the company a “hold” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.23.

Check Out Our Latest Stock Report on Energy Transfer

Energy Transfer Company Profile

(Get Free Report)

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.

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