Energy Transfer (NYSE:ET) Given Overweight Rating at Barclays

Barclays reaffirmed their overweight rating on shares of Energy Transfer (NYSE:ET) in a research report sent to investors on Wednesday morning,Benzinga reports. Barclays currently has a $25.00 price objective on the pipeline company’s stock.

Several other research analysts have also commented on the company. TD Cowen started coverage on Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating and a $22.00 price target on the stock. Cowen started coverage on Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating on the stock. Scotiabank started coverage on Energy Transfer in a research report on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Finally, UBS Group reaffirmed a “buy” rating and set a $22.00 price target on shares of Energy Transfer in a research report on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.46.

Energy Transfer Trading Up 2.1%

ET opened at $16.89 on Wednesday. The firm has a market cap of $57.96 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 0.97 and a beta of 0.78. Energy Transfer has a 52 week low of $14.60 and a 52 week high of $21.45. The business’s 50 day moving average is $17.27 and its two-hundred day moving average is $17.42. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The firm’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 earnings per share. On average, research analysts predict that Energy Transfer will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.8%. Energy Transfer’s dividend payout ratio is presently 102.33%.

Insider Activity

In related news, Director Kelcy L. Warren bought 1,350,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the acquisition, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.28% of the company’s stock.

Institutional Trading of Energy Transfer

A number of institutional investors have recently modified their holdings of ET. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Energy Transfer in the second quarter valued at approximately $168,917,000. Alps Advisors Inc. boosted its stake in shares of Energy Transfer by 12.9% in the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company’s stock valued at $1,400,831,000 after buying an additional 8,613,645 shares in the last quarter. Commerce Bank purchased a new stake in shares of Energy Transfer in the first quarter valued at approximately $92,607,000. Energy Income Partners LLC boosted its stake in shares of Energy Transfer by 12.0% in the first quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company’s stock valued at $429,802,000 after buying an additional 2,471,401 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Energy Transfer in the first quarter valued at approximately $44,876,000. 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.