Energy Transfer (NYSE:ET) Trading 0.6% Higher Following Insider Buying Activity

Energy Transfer LP (NYSE:ET) shares traded up 0.6% during mid-day trading on Monday following insider buying activity. The company traded as high as $16.31 and last traded at $16.25. 2,336,360 shares changed hands during mid-day trading, a decline of 83% from the average session 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 company’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Stifel Nicolaus lifted their price target 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 lifted their price target on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. lifted their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Morgan Stanley boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Finally, UBS Group boosted their target price 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 investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Stock Up 0.6 %

The company’s 50 day moving average price is $16.06 and its two-hundred day moving average price is $15.63. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The stock has a market cap of $54.76 billion, a P/E ratio of 14.91, a P/E/G ratio of 0.42 and a beta of 1.66.

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

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a dividend of $0.32 per share. The ex-dividend date was Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.88%. Energy Transfer’s dividend payout ratio is presently 117.43%.

Hedge Funds Weigh In On Energy Transfer

A number of large investors have recently made changes to their positions in ET. First Reserve GP XIII Ltd purchased a new stake in Energy Transfer in the fourth quarter valued at $322,097,000. Tortoise Capital Advisors L.L.C. boosted its holdings in Energy Transfer by 12.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after purchasing an additional 4,141,715 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Energy Transfer by 18.5% in the fourth quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after purchasing an additional 3,976,676 shares during the last quarter. UBS Group AG boosted its stake in shares of Energy Transfer by 13.3% during the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock worth $395,270,000 after acquiring an additional 3,368,427 shares in the last quarter. Finally, Natixis lifted its position in shares of Energy Transfer by 20.0% during the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after buying an additional 2,999,300 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

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.