Energy Transfer (NYSE:ET) Posts Earnings Results, Misses Expectations By $0.06 EPS

Energy Transfer (NYSE:ET) issued its quarterly earnings results on Wednesday. The pipeline company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.06), FiscalAI reports. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm had revenue of $19.95 billion during the quarter, compared to analysts’ expectations of $21.84 billion. During the same quarter last year, the company posted $0.32 EPS. The firm’s revenue was down 3.9% compared to the same quarter last year.

Energy Transfer Stock Down 2.5%

NYSE:ET traded down $0.42 during mid-day trading on Friday, reaching $16.46. The stock had a trading volume of 13,334,476 shares, compared to its average volume of 14,873,856. The stock has a market cap of $56.48 billion, a P/E ratio of 12.76, a PEG ratio of 1.01 and a beta of 0.76. The business’s 50 day moving average is $17.06 and its 200 day moving average is $17.41. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. Energy Transfer has a fifty-two week low of $14.60 and a fifty-two week high of $21.45.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Friday, November 7th will be issued a $0.3325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date is Friday, November 7th. Energy Transfer’s dividend payout ratio is currently 103.10%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was bought at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the transaction, the director directly owned 69,178,477 shares of the company’s stock, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Energy Transfer

Several institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC bought a new stake in Energy Transfer in the second quarter worth $70,000. WFA of San Diego LLC acquired a new stake in shares of Energy Transfer in the second quarter worth about $73,000. Russell Investments Group Ltd. boosted its stake in shares of Energy Transfer by 436.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock worth $76,000 after acquiring an additional 3,400 shares in the last quarter. Sentinel Wealth Management Inc. bought a new stake in shares of Energy Transfer during the 2nd quarter worth about $203,000. Finally, Talisman Wealth Advisors LLC increased its holdings in shares of Energy Transfer by 5.9% during the 2nd quarter. Talisman Wealth Advisors LLC now owns 12,794 shares of the pipeline company’s stock valued at $232,000 after acquiring an additional 708 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ET. Scotiabank initiated coverage on Energy Transfer in a report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 target price for the company. Jefferies Financial Group set a $17.00 price target on Energy Transfer and gave the company a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday, October 8th. UBS Group reaffirmed a “buy” rating and set a $22.00 target price on shares of Energy Transfer in a research note on Wednesday, October 15th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.23.

About Energy Transfer

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.