Energy Transfer (NYSE:ET) Trading Up 0.3% – Here’s What Happened

Energy Transfer LP (NYSE:ET) shares were up 0.3% during trading on Tuesday . The stock traded as high as $16.45 and last traded at $16.45. Approximately 2,485,133 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 12,979,649 shares. The stock had previously closed at $16.40.

Wall Street Analyst Weigh In

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

Energy Transfer Price Performance

The stock has a market cap of $55.17 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 0.49 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The company has a 50-day simple moving average of $16.16 and a two-hundred day simple moving average of $15.97.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (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 firm had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. During the same period last year, the company posted $0.25 earnings per share. The business’s revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts forecast that Energy Transfer LP will post 1.35 EPS for the current year.

Insider Transactions at Energy Transfer

In related news, Director Kelcy L. Warren acquired 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, for a total transaction 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 approximately $1,934,686,992. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Thomas E. Long purchased 20,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the transaction, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 3,040,000 shares of company stock worth $47,667,200. 3.28% of the stock is owned by company insiders.

Institutional Trading of Energy Transfer

Large investors have recently made changes to their positions in the company. LRI Investments LLC bought a new position in Energy Transfer in the first quarter valued at about $29,000. HWG Holdings LP acquired a new stake in shares of Energy Transfer in the 2nd quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 750 shares during the last quarter. Hudson Edge Investment Partners Inc. acquired a new position in Energy Transfer during the 2nd quarter worth approximately $42,000. Finally, EdgeRock Capital LLC bought a new position in Energy Transfer in the 2nd quarter valued at approximately $42,000. Institutional investors and hedge funds 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.