Energy Transfer (NYSE:ET) Issues Earnings Results

Energy Transfer (NYSE:ET) posted its earnings results on Wednesday. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32, Briefing.com reports. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the previous year, the business earned $0.31 earnings per share. Energy Transfer’s quarterly revenue was up .2% compared to the same quarter last year.

Energy Transfer Stock Performance

Shares of Energy Transfer stock traded down $0.03 during trading on Thursday, reaching $17.39. The company’s stock had a trading volume of 27,824,099 shares, compared to its average volume of 13,212,654. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The business’s fifty day moving average price is $16.25 and its 200-day moving average price is $16.03. The firm has a market cap of $59.51 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. Energy Transfer has a one year low of $13.01 and a one year high of $17.71.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.3225 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 7.42%. Energy Transfer’s dividend payout ratio (DPR) is presently 107.56%.

Insider Transactions at Energy Transfer

In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Energy Transfer news, Director Kelcy L. Warren bought 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the purchase, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the acquisition, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 3,040,000 shares of company stock worth $47,667,200. 3.28% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.