Energy Transfer (NYSE:ET) Trading 0.1% Higher

VaselineSeptember 18, 2024

0 4 minutes read

Shares of Energy Transfer LP ( NYSE:ET – Get Free Report ) were up 0.1% on Monday. The company traded as high as $16.26 and last traded at $16.19. About 1,704,474 shares changed hands during mid-day trading, down 87% from the average daily volume of 13,294,926 shares. Shares previously closed at $16.17.

Changes in Analyst Ratings

Several brokerages have recently weighed in on ET. Mizuho upped their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. UBS Group boosted their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Finally, Morgan Stanley raised their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Moderate Buy” and an average target price of $19.14, based on data from MarketBeat.

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Energy transfer price performance

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The stock has a 50-day simple moving average of $16.06 and a 200-day simple moving average of $15.81. The company has a market cap of $54.29 billion, a PE ratio of 14.69, a P/E/G ratio of 0.46 and a beta of 1.66. The company has a quick ratio of 0.92, a current ratio of 1.14, and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET – Get Your Free Report ) last issued its quarterly earnings data 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 net margin of 5.19% and a return on equity of 12.74%. The company had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. In the same quarter last year, the firm posted earnings of $0.25 per share. The company’s quarterly revenue was up 13.1% year over year. equities analysts expect that Energy Transfer LP will post 1.4 EPS for the current year.

Power transfer increases dividends

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were issued a $0.32 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents an annualized dividend of $1.28 and a dividend yield of 7.95%. The ex-dividend date was Friday, August 9. Energy Transfer’s dividend payout ratio is currently 117.43%.

Insider buying and selling

In other news, EVP Gregory G. Mcilwain acquired 20,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were acquired 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 owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the acquisition, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. Disclosure for this purchase can be found here. In the last quarter, insiders bought 3,040,000 shares of company stock worth $47,667,200. Company insiders own 3.28% of the company’s shares.

Institutional Energy Transfer Trading

Several hedge funds have recently modified their holdings of ET. Rehmann Capital Advisory Group grew its holdings in Energy Transfer by 2.0% in the first quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock worth $505,000 after acquiring an additional 633 shares in the last quarter. Veracity Capital LLC raised its holdings in Energy Transfer by 2.0% in the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock worth $545,000 after buying an additional 659 shares in the last quarter . Sfmg LLC boosted its position in shares of Energy Transfer by 2.2% in the first quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock worth $494,000 after acquiring an additional 674 shares in the last quarter. Morton Capital Management LLC CA raised its position in shares of Energy Transfer by 1.6% in the 2nd quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock worth $720,000 after acquiring an additional 699 shares. of shares in the last quarter. Finally, FinTrust Capital Advisors LLC boosted its stake in Energy Transfer by 3.6% in the first quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock worth $318,000 after purchasing an additional 700 shares in the last quarter. 38.22% of the shares are currently owned by institutional investors and hedge funds.

Energy transfer company profile

(Get a free report)

Energy Transfer LP provides energy related services. The Company owns and operates natural gas transmission pipelines 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 companies and other marketing companies, and industrial end users.