Energy Transfer (NYSE:ET) Trading Up 1.4% – Still a Buy?

Energy Transfer LP (NYSE:ET)’s stock price was up 1.4% on Tuesday . The company traded as high as $17.49 and last traded at $17.3850. Approximately 13,690,556 shares traded hands during mid-day trading, a decline of 10% from the average daily volume of 15,213,108 shares. The stock had previously closed at $17.15.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Barclays reiterated an “overweight” rating and set a $22.00 price target (down from $25.00) on shares of Energy Transfer in a research report on Monday. Jefferies Financial Group set a $17.00 price objective on Energy Transfer and gave the company a “hold” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. decreased their target price on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Finally, UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Wednesday, January 7th. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $21.50.

Energy Transfer Trading Up 1.4%

The company’s 50-day moving average is $16.59 and its 200 day moving average is $17.08. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50. The firm has a market cap of $59.69 billion, a PE ratio of 13.91, a P/E/G ratio of 0.89 and a beta of 0.66.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.06). The firm had revenue of $19.95 billion for the quarter, compared to analyst estimates of $21.84 billion. Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. Energy Transfer’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. As a group, sell-side analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were paid a $0.3325 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.33 annualized dividend and a yield of 7.7%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is currently 106.40%.

Insiders Place Their Bets

In other Energy Transfer news, Director Kelcy L. Warren bought 1,000,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $16.95 per share, with a total value of $16,950,000.00. Following the purchase, the director directly owned 104,577,803 shares in the company, valued at $1,772,593,760.85. The trade was a 0.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.28% of the stock is currently owned by company insiders.

Institutional Trading of Energy Transfer

Institutional investors have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC lifted its position in shares of Energy Transfer by 1.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company’s stock valued at $723,000 after purchasing an additional 565 shares in the last quarter. Bogart Wealth LLC increased its stake in Energy Transfer by 1.9% in the 2nd quarter. Bogart Wealth LLC now owns 32,788 shares of the pipeline company’s stock valued at $594,000 after buying an additional 604 shares during the last quarter. Fiduciary Financial Group LLC lifted its position in shares of Energy Transfer by 2.2% during the 4th quarter. Fiduciary Financial Group LLC now owns 28,106 shares of the pipeline company’s stock worth $463,000 after buying an additional 607 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of Energy Transfer by 7.2% in the 2nd quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company’s stock worth $167,000 after buying an additional 616 shares during the last quarter. Finally, Chicago Capital LLC grew its holdings in shares of Energy Transfer by 2.6% in the second quarter. Chicago Capital LLC now owns 24,056 shares of the pipeline company’s stock valued at $436,000 after acquiring an additional 618 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.