Energy Transfer (NYSE:ET) Trading 0.3% Higher After Dividend Announcement

Energy Transfer LP (NYSE:ET)’s share price rose 0.3% during trading on Tuesday after the company announced a dividend. The stock traded as high as $16.45 and last traded at $16.45. Approximately 2,485,133 shares traded hands during trading, a decline of 81% from the average daily volume of 12,979,649 shares. The stock had previously closed at $16.40.

The newly announced dividend which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be given a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 7.82%. The ex-dividend date of this dividend is Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is 108.40%.

Analyst Ratings Changes

A number of research firms recently issued reports on ET. UBS Group boosted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $20.00.

Energy Transfer Price Performance

The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The stock has a market capitalization of $56.43 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.49 and a beta of 1.66. The business’s fifty day moving average price is $16.18 and its 200-day moving average price is $15.98.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. During the same period last year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, research analysts forecast that Energy Transfer LP will post 1.35 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Gregory G. Mcilwain bought 20,000 shares of the stock in a transaction dated 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 acquisition, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 3,040,000 shares of company stock valued at $47,667,200 in the last three months. 3.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Energy Transfer

Several institutional investors have recently added to or reduced their stakes in ET. Princeton Global Asset Management LLC boosted its stake in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares during the last quarter. LRI Investments LLC purchased a new position in Energy Transfer in the first quarter valued at approximately $29,000. HWG Holdings LP purchased a new position in Energy Transfer in the second quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC grew its holdings in Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares during the period. Finally, EdgeRock Capital LLC purchased a new stake in Energy Transfer in the second quarter worth $42,000. Institutional investors 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.