Energy Transfer (NYSE:ET) Shares Up 1.2% – Here’s Why

by · The Markets Daily

Energy Transfer LP (NYSE:ET – Get Free Report)’s share price was up 1.2% on Monday. The stock traded as high as $20.73 and last traded at $20.72. Approximately 7,203,562 shares changed hands during trading, a decline of 42% from the average daily volume of 12,527,603 shares. The stock had previously closed at $20.47.

Analyst Ratings Changes

A number of analysts recently commented on the company. Stifel Nicolaus initiated coverage on Energy Transfer in a research note on Thursday, September 10th. They set a “buy” rating and a $25.00 price objective on the stock. Zacks Research downgraded shares of Energy Transfer from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Truist Financial boosted their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Wednesday, August 5th. Finally, Melius Research began coverage on shares of Energy Transfer in a research note on Tuesday, September 22nd. They set a “hold” rating and a $25.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.36.

Get Our Latest Stock Analysis on Energy Transfer

Energy Transfer Price Performance

The stock has a market cap of $71.35 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 0.69 and a beta of 0.60. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. The company’s fifty day moving average is $20.87 and its 200 day moving average is $19.94.

Energy Transfer (NYSE:ET – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.21. The company had revenue of $34.33 billion during the quarter, compared to analyst estimates of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The business’s quarterly revenue was up 78.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.73 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 6.6%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.3375. The ex-dividend date of this dividend was Friday, August 7th. Energy Transfer’s dividend payout ratio is 92.52%.

Insider Buying and Selling

In other Energy Transfer news, Director James Perry purchased 12,359 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the purchase, the director owned 208,046 shares in the company, valued at $4,208,770.58. The trade was a 6.32% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kelcy L. Warren purchased 647,968 shares of Energy Transfer stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average cost of $21.26 per share, with a total value of $13,775,799.68. Following the acquisition, the director directly owned 147,901,879 shares of the company’s stock, valued at $3,144,393,947.54. The trade was a 0.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 1,012,359 shares of company stock worth $21,513,543 in the last quarter. Insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Energy Transfer

Institutional investors have recently made changes to their positions in the business. Osbon Capital Management LLC acquired a new stake in shares of Energy Transfer during the second quarter worth approximately $25,000. Cassaday & Co Wealth Management LLC acquired a new position in Energy Transfer in the first quarter worth about $35,000. Financial Life Planners acquired a new position in Energy Transfer in the first quarter worth about $40,000. Bullseye Investment Management LLC bought a new stake in Energy Transfer in the second quarter valued at about $42,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Energy Transfer during the second quarter valued at approximately $42,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Company Profile

(Get Free Report)

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.

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