Energy Transfer (NYSE:ET) Shares Up 0.6% Following Insider Buying Activity

Energy Transfer LP (NYSE:ET)’s stock price was up 0.6% on Monday after an insider bought additional shares in the company. The company traded as high as $16.31 and last traded at $16.25. Approximately 2,336,360 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 13,484,834 shares. The stock had previously closed at $16.15.

Specifically, EVP Gregory G. Mcilwain purchased 20,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Upgrades and Downgrades

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

Energy Transfer Price Performance

The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. The business’s 50-day moving average price is $16.08 and its two-hundred day moving average price is $15.64. The firm has a market cap of $54.32 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 0.42 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted 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 company had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. On average, research analysts forecast that Energy Transfer LP will post 1.49 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a $0.32 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.94%. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s payout ratio is currently 117.43%.

Institutional Trading of Energy Transfer

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

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.