Energy Transfer (NYSE:ET) Stock Price Up 0.4% – Here’s What Happened

Energy Transfer LP (NYSE:ET) traded up 0.4% during mid-day trading on Friday . The company traded as high as $16.48 and last traded at $16.47. 1,827,565 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 13,000,402 shares. The stock had previously closed at $16.40.

Analyst Ratings Changes

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

Energy Transfer Price Performance

The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The company has a market capitalization of $55.23 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. The company’s 50 day simple moving average is $16.15 and its 200 day simple moving average is $15.96.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. During the same period in the prior year, the business earned $0.25 EPS. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, sell-side analysts predict that Energy Transfer LP will post 1.35 earnings per share for the current year.

Insider Activity at Energy Transfer

In other Energy Transfer news, CEO Thomas E. Long acquired 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas E. Long bought 20,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 3,040,000 shares of company stock worth $47,667,200 over the last 90 days. Company insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Energy Transfer

A number of institutional investors have recently added to or reduced their stakes in ET. LRI Investments LLC bought a new stake in shares of Energy Transfer in the 1st quarter valued at approximately $29,000. HWG Holdings LP acquired a new position in shares of Energy Transfer during the second quarter worth approximately $33,000. Sugarloaf Wealth Management LLC grew its stake in shares of Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in Energy Transfer in the second quarter worth about $42,000. Finally, Hudson Edge Investment Partners Inc. bought a new stake in Energy Transfer during the second quarter worth approximately $42,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Company Profile

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.