Energy Transfer (NYSE:ET) Sets New 1-Year High – What’s Next?

Shares of Energy Transfer LP (NYSE:ET) reached a new 52-week high on Tuesday . The stock traded as high as $21.77 and last traded at $21.6150, with a volume of 703342 shares. The stock had previously closed at $21.51.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group restated a “buy” rating on shares of Energy Transfer in a research note on Wednesday, August 5th. Zacks Research downgraded shares of Energy Transfer from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Barclays reissued an “overweight” rating and issued a $24.00 price target (up from $23.00) on shares of Energy Transfer in a research report on Wednesday, August 5th. Citigroup restated a “buy” rating and set a $24.00 price target (up from $23.00) on shares of Energy Transfer in a research note on Friday, August 7th. Finally, Weiss Ratings downgraded shares of Energy Transfer from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and a consensus target price of $24.08.

Energy Transfer Stock Performance

The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $74.26 billion, a PE ratio of 14.67, a PEG ratio of 0.74 and a beta of 0.55. The company has a 50-day moving average price of $20.27 and a two-hundred day moving average price of $19.56.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping 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 business had revenue of $34.33 billion for the quarter, compared to analysts’ expectations of $27.71 billion. During the same quarter in the prior year, the firm posted $0.32 EPS. The firm’s quarterly revenue was up 78.4% on a year-over-year basis. Analysts predict that Energy Transfer LP will post 1.66 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.3%. Energy Transfer’s payout ratio is currently 92.52%.

Insider Transactions at Energy Transfer

In other news, Director Kelcy L. Warren acquired 647,968 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was bought at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the completion of 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James Richard Perry acquired 12,359 shares of Energy Transfer stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average cost of $20.23 per share, with a total value of $250,022.57. Following the purchase, the director owned 208,046 shares of the company’s stock, valued at $4,208,770.58. This represents a 6.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 1,012,359 shares of company stock worth $21,513,543. Insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Arrow Investment Advisors LLC increased its holdings in shares of Energy Transfer by 4.9% in the second quarter. Arrow Investment Advisors LLC now owns 10,866 shares of the pipeline company’s stock worth $208,000 after purchasing an additional 505 shares during the period. Argent Trust Co raised its position in shares of Energy Transfer by 2.1% in the second quarter. Argent Trust Co now owns 26,035 shares of the pipeline company’s stock worth $498,000 after buying an additional 529 shares in the last quarter. State of Wyoming boosted its stake in Energy Transfer by 2.5% during the second quarter. State of Wyoming now owns 22,822 shares of the pipeline company’s stock valued at $436,000 after buying an additional 548 shares during the period. Keybank National Association OH boosted its stake in Energy Transfer by 0.3% during the first quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock valued at $4,231,000 after buying an additional 556 shares during the period. Finally, Marks Wealth LLC grew its position in Energy Transfer by 4.7% during the fourth quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock worth $207,000 after buying an additional 560 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Company Profile

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.