Energy Transfer (NYSE:ET) Announces Quarterly Earnings Results

Energy Transfer (NYSE:ET) announced its earnings results on Wednesday. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32, Briefing.com reports. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter in the prior year, the firm earned $0.31 earnings per share. The business’s revenue was up .2% compared to the same quarter last year.

Energy Transfer Trading Down 0.1 %

Shares of Energy Transfer stock traded down $0.01 during trading hours on Thursday, hitting $17.41. The company’s stock had a trading volume of 27,754,070 shares, compared to its average volume of 13,212,618. The firm has a fifty day moving average of $16.25 and a 200-day moving average of $16.03. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The stock has a market cap of $59.58 billion, a price-to-earnings ratio of 14.65, a P/E/G ratio of 0.50 and a beta of 1.66. Energy Transfer has a twelve month low of $13.01 and a twelve month high of $17.71.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders 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 annualized dividend and a yield of 7.41%. Energy Transfer’s dividend payout ratio (DPR) is 107.56%.

Insider Buying and Selling at Energy Transfer

In other news, Director Kelcy L. Warren acquired 3,000,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the purchase, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Gregory G. Mcilwain purchased 20,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the stock in a transaction dated Monday, August 12th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 3,040,000 shares of company stock valued at $47,667,200 over the last 90 days. 3.28% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on ET. UBS Group lifted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Bank of America assumed coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Company Profile

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.