Energy Transfer Sees Unusually Large Options Volume (NYSE:ET)

by · The Cerbat Gem

Energy Transfer LP (NYSE:ET – Get Free Report) was the target of unusually large options trading on Wednesday. Stock traders bought 96,003 call options on the stock. This represents an increase of approximately 115% compared to the typical daily volume of 44,591 call options.

Energy Transfer Price Performance

Shares of ET traded down $0.03 during trading hours on Wednesday, hitting $17.38. 7,978,403 shares of the stock were exchanged, compared to its average volume of 14,368,646. The stock’s 50-day moving average price is $16.60 and its two-hundred day moving average price is $17.07. Energy Transfer has a 12-month low of $14.60 and a 12-month high of $21.45. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.14 and a current ratio of 1.41. The company has a market cap of $59.66 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 0.90 and a beta of 0.66.

Energy Transfer (NYSE:ET – Get Free Report) last announced its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.06). Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The business had revenue of $19.95 billion for the quarter, compared to analyst estimates of $21.84 billion. During the same period last year, the firm earned $0.32 EPS. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. Research analysts expect that Energy Transfer will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were paid a dividend of $0.3325 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.33 annualized dividend and a yield of 7.7%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is currently 106.40%.

Insider Buying and Selling

In other news, Director Kelcy L. Warren acquired 1,000,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were acquired at an average price of $16.95 per share, with a total value 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Energy Transfer

A number of large investors have recently made changes to their positions in the stock. Ryan Investment Management Inc. acquired a new position in Energy Transfer during the second quarter worth $31,000. CNB Bank boosted its position in shares of Energy Transfer by 111.1% during the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 1,000 shares during the last quarter. Financial Life Planners purchased a new stake in shares of Energy Transfer in the third quarter valued at about $34,000. HHM Wealth Advisors LLC increased its position in Energy Transfer by 54.4% during the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 800 shares during the last quarter. Finally, Crowley Wealth Management Inc. purchased a new position in Energy Transfer during the second quarter worth about $44,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on ET shares. Royal Bank Of Canada upgraded shares of Energy Transfer to a “moderate buy” rating in a research report on Monday, December 15th. Scotiabank lowered their target price on shares of Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a research note on Thursday, November 13th. Jefferies Financial Group set a $17.00 price target on Energy Transfer and gave the company a “hold” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. reduced their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Finally, Barclays reissued an “overweight” rating and issued a $22.00 price objective (down from $25.00) on shares of Energy Transfer in a report on Monday. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Read Our Latest Analysis on ET

Energy Transfer Company Profile

(Get Free Report)

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.

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