Energy Transfer (NYSE:ET) Research Coverage Started at Melius Research

Melius Research began coverage on shares of Energy Transfer (NYSE:ET) in a report released on Tuesday morning, MarketBeat.com reports. The firm issued a hold rating and a $25.00 price target on the pipeline company’s stock.

Other equities research analysts have also issued research reports about the stock. Barclays reaffirmed an “overweight” rating and issued a $24.00 target price (up from $23.00) on shares of Energy Transfer in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Energy Transfer from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Morgan Stanley upped their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 18th. Truist Financial raised their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.36.

Energy Transfer Price Performance

Energy Transfer stock opened at $20.34 on Tuesday. The business has a 50 day simple moving average of $20.90 and a 200 day simple moving average of $19.88. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94. The company has a market capitalization of $70.05 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 0.68 and a beta of 0.57. Energy Transfer has a one year low of $16.18 and a one year high of $21.84.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.21. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The firm had revenue of $34.33 billion for the quarter, compared to analysts’ expectations of $27.71 billion. During the same period in the prior year, the business posted $0.32 earnings per share. The business’s revenue was up 78.4% compared to the same quarter last year. On average, sell-side analysts forecast that Energy Transfer will post 1.73 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were given a dividend of $0.34 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.3375. The ex-dividend date was Friday, August 7th. This represents a $1.36 annualized dividend and a yield of 6.7%. Energy Transfer’s dividend payout ratio is currently 92.52%.

Insider Transactions at Energy Transfer

In related news, Director Kelcy Warren acquired 647,968 shares of the stock in a transaction on Wednesday, August 19th. The stock was purchased at an average price of $21.26 per share, for a total transaction of $13,775,799.68. Following the transaction, the director owned 147,901,879 shares of the company’s stock, valued at $3,144,393,947.54. The trade was a 0.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Perry acquired 12,359 shares of the stock in a transaction on Friday, August 7th. The stock was bought at an average price of $20.23 per share, with a total value of $250,022.57. Following the transaction, the director directly owned 208,046 shares in the company, valued at approximately $4,208,770.58. This represents a 6.32% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 1,012,359 shares of company stock worth $21,513,543. Insiders own 3.28% of the company’s stock.

Institutional Trading of Energy Transfer

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Alps Advisors Inc. boosted its position in shares of Energy Transfer by 8.0% during the fourth quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock worth $1,382,573,000 after purchasing an additional 6,192,066 shares in the last quarter. Mizuho Markets Americas LLC bought a new stake in shares of Energy Transfer in the 1st quarter valued at $61,760,000. SCS Capital Management LLC increased its position in shares of Energy Transfer by 1,859.8% in the 2nd quarter. SCS Capital Management LLC now owns 1,942,908 shares of the pipeline company’s stock valued at $37,148,000 after buying an additional 1,843,771 shares in the last quarter. Bank of America Corp DE raised its stake in Energy Transfer by 5.7% during the 1st quarter. Bank of America Corp DE now owns 30,956,358 shares of the pipeline company’s stock worth $597,458,000 after buying an additional 1,656,609 shares during the period. Finally, Longfellow Investment Management Co. LLC lifted its holdings in Energy Transfer by 56.3% during the fourth quarter. Longfellow Investment Management Co. LLC now owns 3,028,233 shares of the pipeline company’s stock worth $49,936,000 after acquiring an additional 1,090,165 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Company Profile

Energy Transfer LP (NYSE: ET) is a diversified midstream energy partnership that owns and operates infrastructure used to transport, store, process and market energy commodities. Its assets support the movement of natural gas, crude oil, natural gas liquids (NGLs), refined products and other hydrocarbon-based materials.

The company’s operations include natural gas gathering and processing, interstate and intrastate pipeline transportation, NGL fractionation and storage, crude oil and refined products transportation, and terminal services.