Energy Transfer (NYSE:ET) Reaches New 1-Year High – Here’s Why

Energy Transfer LP (NYSE:ET) hit a new 52-week high on Tuesday . The company traded as high as $17.73 and last traded at $17.71, with a volume of 2075487 shares changing hands. The stock had previously closed at $17.58.

Analyst Ratings Changes

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

Energy Transfer Stock Performance

The firm has a market cap of $61.05 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 0.53 and a beta of 1.66. The stock’s fifty day moving average is $16.45 and its two-hundred day moving average is $16.11. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter last year, the business earned $0.31 earnings per share. Energy Transfer’s revenue was up .2% compared to the same quarter last year. On average, analysts expect that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be issued a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 7.23%. The ex-dividend date is Friday, November 8th. Energy Transfer’s payout ratio is currently 94.85%.

Insider Activity at Energy Transfer

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the purchase, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. This trade represents a 3.50 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.28% of the stock is currently owned by insiders.

Institutional Trading of Energy Transfer

Several institutional investors have recently modified their holdings of ET. Princeton Global Asset Management LLC grew its holdings in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares during the period. Assetmark Inc. grew its stake in shares of Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Energy Transfer in the 1st quarter worth approximately $29,000. HWG Holdings LP acquired a new stake in Energy Transfer during the second quarter valued at approximately $33,000. Finally, Sugarloaf Wealth Management LLC boosted its holdings in Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after buying an additional 750 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

About Energy Transfer

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.