Energy Transfer (NYSE:ET) Shares Up 0.2% – What’s Next?

Energy Transfer LP (NYSE:ET) shares rose 0.2% on Wednesday . The company traded as high as $17.13 and last traded at $17.08. Approximately 2,888,980 shares were traded during trading, a decline of 78% from the average daily volume of 13,244,215 shares. The stock had previously closed at $17.05.

Analysts Set New Price Targets

Several analysts recently issued reports on ET shares. Royal Bank of Canada increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. UBS Group lifted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Bank of America initiated coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Energy Transfer currently has an average rating of “Buy” and an average target price of $20.00.

Energy Transfer Trading Up 0.3 %

The stock has a market cap of $58.70 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.52 and a beta of 1.66. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.92 and a current ratio of 1.08. The stock’s fifty day moving average is $16.37 and its 200 day moving average is $16.08.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 EPS. As a group, equities research analysts predict that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be paid a dividend of $0.3225 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.52%. Energy Transfer’s dividend payout ratio is presently 94.85%.

Insiders Place Their Bets

In related news, EVP Gregory G. Mcilwain bought 20,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This trade represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Energy Transfer

Several large investors have recently added to or reduced their stakes in the stock. Fortis Capital Management LLC raised its stake in Energy Transfer by 2.0% in the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock worth $513,000 after acquiring an additional 634 shares during the last quarter. Princeton Global Asset Management LLC boosted its position in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the last quarter. Veracity Capital LLC increased its holdings in Energy Transfer by 2.0% in the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock worth $545,000 after buying an additional 659 shares during the period. Haverford Trust Co raised its position in Energy Transfer by 0.7% during the 3rd quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock worth $1,640,000 after buying an additional 675 shares during the last quarter. Finally, Morton Capital Management LLC CA boosted its holdings in shares of Energy Transfer by 1.6% in the 2nd quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock valued at $720,000 after acquiring an additional 699 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

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.