Kelcy L. Warren Acquires 3,000,000 Shares of Energy Transfer LP (NYSE:ET) Stock

Energy Transfer LP (NYSE:ET) Director Kelcy L. Warren bought 3,000,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Energy Transfer Trading Up 0.2 %

ET traded up $0.03 on Tuesday, hitting $15.58. The company had a trading volume of 19,937,242 shares, compared to its average volume of 13,506,072. Energy Transfer LP has a 12-month low of $12.46 and a 12-month high of $16.50. The business’s fifty day simple moving average is $15.95 and its 200 day simple moving average is $15.52. The company has a market cap of $52.50 billion, a PE ratio of 14.16, a PEG ratio of 0.42 and a beta of 1.66. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The business had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the firm earned $0.25 EPS. Equities research analysts expect that Energy Transfer LP will post 1.49 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Friday, August 9th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 8.22%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 117.43%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Mizuho increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Stifel Nicolaus increased their price target on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, UBS Group increased their price target on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average target price of $19.29.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Northwest Financial Advisors acquired a new stake in Energy Transfer during the 4th quarter worth approximately $25,000. LRI Investments LLC purchased a new stake in shares of Energy Transfer in the first quarter valued at about $29,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Energy Transfer during the fourth quarter worth about $33,000. Ables Iannone Moore & Associates Inc. purchased a new stake in Energy Transfer during the fourth quarter worth about $34,000. Finally, Hudson Edge Investment Partners Inc. acquired a new position in Energy Transfer during the second quarter worth about $42,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.