Energy Transfer (NYSE:ET) Sets New 12-Month High at $13.87

Shares of Energy Transfer LP (NYSE:ET) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.87 and last traded at $13.87, with a volume of 828030 shares traded. The stock had previously closed at $13.77.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ET shares. Morgan Stanley reiterated an “overweight” rating and set a $17.00 price objective on shares of Energy Transfer in a research report on Thursday, July 20th. Mizuho upped their price target on shares of Energy Transfer from $17.00 to $18.00 in a research report on Tuesday, July 18th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $16.67.

Energy Transfer Stock Performance

The company’s 50-day simple moving average is $13.18 and its 200-day simple moving average is $12.81. The company has a current ratio of 0.81, a quick ratio of 0.64 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $43.60 billion, a price-to-earnings ratio of 11.55 and a beta of 1.70.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). Energy Transfer had a net margin of 5.05% and a return on equity of 11.85%. The firm had revenue of $18.32 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same period in the prior year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was down 29.4% compared to the same quarter last year. On average, analysts expect that Energy Transfer LP will post 1.21 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Monday, August 14th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 8.94%. The ex-dividend date of this dividend was Friday, August 11th. Energy Transfer’s dividend payout ratio is currently 103.33%.

Insider Activity

In other news, Chairman Kelcy L. Warren acquired 1,150,000 shares of Energy Transfer stock in a transaction dated Monday, August 21st. The shares were bought at an average cost of $13.00 per share, with a total value of $14,950,000.00. Following the purchase, the chairman now owns 64,578,477 shares in the company, valued at approximately $839,520,201. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Chairman Kelcy L. Warren bought 1,150,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were acquired at an average cost of $13.00 per share, with a total value of $14,950,000.00. Following the completion of the purchase, the chairman now directly owns 64,578,477 shares in the company, valued at $839,520,201. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marshall S. Mccrea III bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were bought at an average cost of $13.79 per share, for a total transaction of $689,500.00. Following the completion of the purchase, the chief executive officer now owns 6,769,267 shares of the company’s stock, valued at $93,348,191.93. The disclosure for this purchase can be found here. In the last three months, insiders have bought 2,010,000 shares of company stock valued at $26,149,000. 3.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Easterly Investment Partners LLC bought a new position in Energy Transfer during the fourth quarter worth $158,000. Good Life Advisors LLC boosted its stake in Energy Transfer by 21.8% during the first quarter. Good Life Advisors LLC now owns 15,306 shares of the pipeline company’s stock worth $191,000 after acquiring an additional 2,744 shares in the last quarter. Recurrent Investment Advisors LLC raised its holdings in Energy Transfer by 4.3% during the first quarter. Recurrent Investment Advisors LLC now owns 3,081,560 shares of the pipeline company’s stock worth $38,427,000 after buying an additional 126,853 shares during the last quarter. Clear Creek Financial Management LLC raised its holdings in Energy Transfer by 4.8% during the first quarter. Clear Creek Financial Management LLC now owns 29,645 shares of the pipeline company’s stock worth $370,000 after buying an additional 1,361 shares during the last quarter. Finally, Keybank National Association OH raised its holdings in Energy Transfer by 5.3% during the first quarter. Keybank National Association OH now owns 136,954 shares of the pipeline company’s stock worth $1,708,000 after buying an additional 6,915 shares during the last quarter. 33.79% of the stock is owned by institutional investors.

About Energy Transfer

Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,945 miles of interstate natural gas pipeline.