Energy Transfer (NYSE:ET) Trading 0.3% Higher After Dividend Announcement

Energy Transfer LP (NYSE:ET) traded up 0.3% during mid-day trading on Tuesday following a dividend announcement from the company. The company traded as high as $16.45 and last traded at $16.45. 2,485,133 shares were traded during trading, a decline of 81% from the average session volume of 12,979,649 shares. The stock had previously closed at $16.40.

The newly announced dividend which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be given a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 7.84%. The ex-dividend date of this dividend is Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 108.40%.

Analyst Upgrades and Downgrades

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

Energy Transfer Stock Up 0.5 %

The firm has a 50 day simple moving average of $16.18 and a two-hundred day simple moving average of $15.98. The company has a market capitalization of $56.33 billion, a PE ratio of 13.83, a P/E/G ratio of 0.49 and a beta of 1.66. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share 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. During the same quarter last year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. Research analysts expect that Energy Transfer LP will post 1.35 EPS for the current year.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the purchase, the director now directly owns 123,385,650 shares in the company, valued at $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the purchase, the director now directly owns 123,385,650 shares in the company, valued at $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory G. Mcilwain purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the executive vice president now owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 3,040,000 shares of company stock worth $47,667,200. 3.28% of the stock is currently owned by insiders.

Institutional Trading of Energy Transfer

Institutional investors have recently bought and sold shares of the company. Berkley W R Corp boosted its position in Energy Transfer by 11.6% during the first quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock worth $83,912,000 after purchasing an additional 555,445 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Energy Transfer by 491.3% in the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock worth $20,297,000 after acquiring an additional 1,072,144 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Energy Transfer by 1,491.0% in the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after acquiring an additional 3,913,266 shares during the last quarter. Chickasaw Capital Management LLC raised its holdings in shares of Energy Transfer by 3.1% in the third quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock worth $246,376,000 after acquiring an additional 466,565 shares during the last quarter. Finally, Nicolet Advisory Services LLC raised its holdings in shares of Energy Transfer by 48.8% in the first quarter. Nicolet Advisory Services LLC now owns 17,464 shares of the pipeline company’s stock worth $275,000 after acquiring an additional 5,730 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

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.