Energy Transfer (NYSE:ET) Stock Price Up 2.1% – What’s Next?

Energy Transfer LP (NYSE:ET) shares were up 2.1% on Thursday . The stock traded as high as $16.91 and last traded at $16.8750. Approximately 18,245,709 shares traded hands during mid-day trading, an increase of 12% from the average daily volume of 16,233,324 shares. The stock had previously closed at $16.52.

Analyst Ratings Changes

A number of brokerages recently commented on ET. JPMorgan Chase & Co. decreased their price target on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a research report on Monday, December 15th. Morgan Stanley lowered their target price on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 2nd. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Wednesday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $21.75.

Energy Transfer Stock Up 0.4%

The stock has a 50 day moving average price of $16.58 and a 200 day moving average price of $17.10. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $58.25 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 0.88 and a beta of 0.66.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The business 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 10.71% and a net margin of 5.66%.The company’s revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. As a group, analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were paid a $0.3325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date of this dividend was Friday, November 7th. Energy Transfer’s payout ratio is presently 106.40%.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average price of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the purchase, the director directly owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 3.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Ryan Investment Management Inc. acquired a new stake in Energy Transfer in the second quarter valued at approximately $31,000. CNB Bank grew its position in Energy Transfer by 111.1% in the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 1,000 shares in the last quarter. Financial Life Planners purchased a new stake in shares of Energy Transfer during the third quarter valued at approximately $34,000. HHM Wealth Advisors LLC raised its stake in shares of Energy Transfer by 54.4% during the 2nd 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 period. Finally, Crowley Wealth Management Inc. bought a new stake in Energy Transfer in the second quarter worth about $44,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Company Profile

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.