Energy Transfer (NYSE:ET) Stock Price Up 1% – Still a Buy?

Energy Transfer LP (NYSE:ET) shares shot up 1% during mid-day trading on Monday . The company traded as high as $17.51 and last traded at $17.47. 3,971,477 shares were traded during trading, a decline of 70% from the average session volume of 13,316,592 shares. The stock had previously closed at $17.29.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ET. Royal Bank of Canada lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. UBS Group lifted their price target 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. Finally, Bank of America started coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Trading Up 2.2 %

The business’s 50 day moving average is $16.50 and its two-hundred day moving average is $16.13. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $61.49 billion, a P/E ratio of 13.21, a PEG ratio of 0.53 and a beta of 1.66.

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

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.18%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

Insiders Place Their Bets

In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost 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 $9,270,188.48. The trade was a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.28% of the stock is owned by company insiders.

Institutional Trading of Energy Transfer

Institutional investors and hedge funds have recently bought and sold shares of the stock. Princeton Global Asset Management LLC raised its holdings in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the period. Assetmark Inc. grew its stake in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares in the last quarter. LRI Investments LLC purchased a new position in Energy Transfer during the 1st quarter valued at about $29,000. HWG Holdings LP purchased a new position in Energy Transfer during the 2nd quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC grew its stake in Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 750 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.