Energy Transfer LP (NYSE:ET – Get Rating) was the recipient of some unusual options trading activity on Wednesday. Stock traders acquired 119,247 call options on the stock. This represents an increase of approximately 36% compared to the average volume of 87,481 call options.
Wall Street Analyst Weigh In
A number of analysts have weighed in on ET shares. Morgan Stanley increased their price target on shares of Energy Transfer from $12.00 to $15.00 and gave the company an “overweight” rating in a report on Tuesday, April 26th. Barclays increased their price target on shares of Energy Transfer from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, August 16th. US Capital Advisors reissued a “buy” rating on shares of Energy Transfer in a report on Wednesday, June 1st. Finally, Royal Bank of Canada increased their price objective on shares of Energy Transfer from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, August 18th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Buy” and a consensus target price of $14.63.
Insider Buying and Selling at Energy Transfer
In related news, Director Richard D. Brannon acquired 26,027 shares of the company’s stock in a transaction on Thursday, July 14th. The shares were purchased at an average price of $9.47 per share, for a total transaction of $246,475.69. Following the purchase, the director now owns 388,347 shares in the company, valued at $3,677,646.09. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Energy Transfer news, Director Richard D. Brannon bought 26,027 shares of the firm’s stock in a transaction on Thursday, July 14th. The stock was bought at an average cost of $9.47 per share, with a total value of $246,475.69. Following the completion of the transaction, the director now directly owns 388,347 shares of the company’s stock, valued at approximately $3,677,646.09. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Kelcy L. Warren acquired 1,591,092 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were purchased at an average cost of $10.94 per share, with a total value of $17,406,546.48. Following the completion of the acquisition, the chairman now owns 49,578,477 shares in the company, valued at approximately $542,388,538.38. The disclosure for this purchase can be found here. Company insiders own 3.28% of the company’s stock.
Institutional Investors Weigh In On Energy Transfer
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in ET. Truist Financial Corp boosted its stake in shares of Energy Transfer by 7.4% in the 1st quarter. Truist Financial Corp now owns 799,181 shares of the pipeline company’s stock valued at $8,944,000 after purchasing an additional 54,910 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Energy Transfer by 40.6% in the 1st quarter. Fisher Asset Management LLC now owns 37,850 shares of the pipeline company’s stock valued at $424,000 after purchasing an additional 10,936 shares during the last quarter. Wealth Alliance boosted its stake in shares of Energy Transfer by 58.7% in the 1st quarter. Wealth Alliance now owns 50,825 shares of the pipeline company’s stock valued at $569,000 after purchasing an additional 18,798 shares during the last quarter. Sfmg LLC boosted its stake in Energy Transfer by 18.1% during the 1st quarter. Sfmg LLC now owns 22,154 shares of the pipeline company’s stock worth $248,000 after acquiring an additional 3,395 shares during the last quarter. Finally, Baker Tilly Wealth Management LLC boosted its stake in Energy Transfer by 154.7% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 26,578 shares of the pipeline company’s stock worth $297,000 after acquiring an additional 16,145 shares during the last quarter. Institutional investors and hedge funds own 48.40% of the company’s stock.
Energy Transfer Price Performance
ET traded up $0.22 during midday trading on Wednesday, hitting $12.40. The company had a trading volume of 428,258 shares, compared to its average volume of 16,823,964. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.98 and a current ratio of 1.15. The company has a market capitalization of $38.28 billion, a PE ratio of 9.74 and a beta of 1.90. Energy Transfer has a twelve month low of $7.96 and a twelve month high of $12.48. The firm’s 50-day simple moving average is $10.61 and its 200-day simple moving average is $10.80.
Energy Transfer Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 7.42%. The ex-dividend date of this dividend was Friday, August 5th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.20. Energy Transfer’s dividend payout ratio (DPR) is presently 73.60%.
About Energy Transfer
Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.
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