Energy Transfer LP (NYSE:ET - Get Free Report) Director James Richard Perry acquired 12,359 shares of the business's stock in a transaction dated Friday, August 7th. The shares were bought at an average cost of $20.23 per share, with a total value of $250,022.57. Following the transaction, the director directly owned 208,046 shares of the company's stock, valued at $4,208,770.58. The trade was a 6.32% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.
Energy Transfer Stock Performance
ET opened at $20.62 on Tuesday. The stock has a market cap of $71.00 billion, a PE ratio of 14.03, a P/E/G ratio of 1.98 and a beta of 0.55. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $20.81. The stock's 50 day simple moving average is $19.66 and its 200-day simple moving average is $19.24.
Energy Transfer (NYSE:ET - Get Free Report) last posted its 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 net margin of 4.87% and a return on equity of 11.55%. 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 previous year, the firm posted $0.32 earnings per share. The firm's revenue for the quarter was up 78.4% on a year-over-year basis. Sell-side analysts forecast that Energy Transfer LP will post 1.52 EPS for the current year.
Energy Transfer Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be given a dividend of $0.34 per share. The ex-dividend date is 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 6.6%. Energy Transfer's dividend payout ratio (DPR) is currently 92.52%.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. TD Cowen reissued a "buy" rating and set a $25.00 price target (up from $24.00) on shares of Energy Transfer in a research note on Monday. JPMorgan Chase & Co. raised their price objective on shares of Energy Transfer from $22.00 to $24.00 and gave the company an "overweight" rating in a research note on Tuesday, May 12th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Energy Transfer in a report on Wednesday, August 5th. Morgan Stanley upped their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 27th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $23.75.
Read Our Latest Research Report on ET
Institutional Trading of Energy Transfer
A number of hedge funds and other institutional investors have recently made changes to their positions in ET. Basepoint Wealth LLC acquired a new stake in shares of Energy Transfer in the fourth quarter valued at about $25,000. Gables Capital Management Inc. boosted its position in Energy Transfer by 60.0% during the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company's stock valued at $26,000 after purchasing an additional 600 shares during the last quarter. Sarver Vrooman Wealth Advisors acquired a new position in Energy Transfer during the fourth quarter valued at approximately $32,000. Cassaday & Co Wealth Management LLC bought a new position in Energy Transfer in the first quarter valued at approximately $35,000. Finally, Navalign LLC bought a new position in Energy Transfer in the fourth quarter valued at approximately $37,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.
Energy Transfer Company Profile
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Get Free Report)
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.
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