Energy Transfer (NYSE:ET) Shares Up 0.6% – Still a Buy?

Shares of Energy Transfer LP (NYSE:ET) rose 0.6% on Thursday . The stock traded as high as $17.22 and last traded at $17.20. Approximately 2,266,500 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 13,322,969 shares. The stock had previously closed at $17.10.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Bank of America began coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Finally, UBS Group increased their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $20.00.

Energy Transfer Stock Up 0.8 %

The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.92. The company has a market cap of $59.18 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 0.52 and a beta of 1.66. The firm’s 50-day moving average price is $16.42 and its 200-day moving average price is $16.09.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS. Sell-side analysts forecast that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.3225 per share. The ex-dividend date is Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.46%. Energy Transfer’s dividend payout ratio is currently 94.85%.

Insider Activity at Energy Transfer

In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of Energy Transfer 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 purchase, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The trade was a 3.50 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nwam LLC lifted its holdings in shares of Energy Transfer by 36.6% in the 1st quarter. Nwam LLC now owns 26,526 shares of the pipeline company’s stock worth $427,000 after purchasing an additional 7,102 shares during the last quarter. Nicolet Advisory Services LLC boosted its holdings in shares of Energy Transfer by 48.8% during the first quarter. Nicolet Advisory Services LLC now owns 17,464 shares of the pipeline company’s stock valued at $275,000 after acquiring an additional 5,730 shares during the period. Osaic Holdings Inc. grew its position in shares of Energy Transfer by 29.8% during the first quarter. Osaic Holdings Inc. now owns 3,653,456 shares of the pipeline company’s stock worth $57,469,000 after acquiring an additional 838,834 shares during the last quarter. Cercano Management LLC lifted its position in Energy Transfer by 78.2% in the 1st quarter. Cercano Management LLC now owns 438,495 shares of the pipeline company’s stock valued at $6,898,000 after purchasing an additional 192,370 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC boosted its stake in Energy Transfer by 1,166.7% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 12,160 shares of the pipeline company’s stock valued at $191,000 after purchasing an additional 11,200 shares during the period. 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.