Energy Transfer LP (NYSE:ET – Get Rating) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 85,830,000 shares, a decline of 6.9% from the August 31st total of 92,190,000 shares. Currently, 3.5% of the company's shares are short sold. Based on an average trading volume of 19,950,000 shares, the short-interest ratio is presently 4.3 days.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. 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 research report on Tuesday, August 16th. Royal Bank of Canada increased their price target on shares of Energy Transfer from $15.00 to $16.00 and gave the company an "outperform" rating in a research report on Thursday, August 18th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $14.67.
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Energy Transfer Price Performance
Shares of NYSE ET opened at $11.03 on Friday. The stock has a market capitalization of $34.05 billion, a price-to-earnings ratio of 8.82 and a beta of 1.85. Energy Transfer has a 12 month low of $7.96 and a 12 month high of $12.49. The firm's 50 day simple moving average is $11.50 and its 200-day simple moving average is $11.10. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.15 and a quick ratio of 0.98.
Energy Transfer (NYSE:ET – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The pipeline company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. The business had revenue of $25.95 billion for the quarter, compared to analysts' expectations of $21.88 billion. Energy Transfer had a net
margin of 4.83% and a return on equity of 11.98%. Analysts expect that Energy Transfer will post 1.38 EPS for the current year.
Energy Transfer Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Monday, August 8th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 8.34%. This is a boost from Energy Transfer's previous quarterly dividend of $0.20. Energy Transfer's dividend payout ratio (DPR) is currently 73.60%.
Insider Buying and Selling at Energy Transfer
In related news, Director Richard D. Brannon purchased 26,027 shares of the business's stock in a transaction dated Thursday, July 14th. The shares were purchased at an average cost of $9.47 per share, for a total transaction of $246,475.69. Following the completion of the acquisition, the director now owns 388,347 shares in the company, valued at approximately $3,677,646.09. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Energy Transfer news, Chairman Kelcy L. Warren acquired 2,428,747 shares of the stock in a transaction that occurred on Monday, September 12th. The stock was bought at an average cost of $12.04 per share, with a total value of $29,242,113.88. Following the completion of the purchase, the chairman now directly owns 52,007,224 shares in the company, valued at $626,166,976.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard D. Brannon acquired 26,027 shares of the stock in a transaction that occurred on Thursday, July 14th. The stock was acquired at an average cost of $9.47 per share, with a total value of $246,475.69. Following the completion of the purchase, the director now owns 388,347 shares of the company's stock, valued at $3,677,646.09. The disclosure for this purchase can be found here. Insiders have bought 4,045,866 shares of company stock worth $46,895,136 over the last quarter. Insiders own 3.28% of the company's stock.
Institutional Investors Weigh In On Energy Transfer
Institutional investors have recently added to or reduced their stakes in the stock. Oak Harvest Investment Services lifted its holdings in Energy Transfer by 2.1% in the 1st quarter. Oak Harvest Investment Services now owns 40,395 shares of the pipeline company's stock valued at $452,000 after purchasing an additional 840 shares in the last quarter. Diversified Trust Co lifted its holdings in Energy Transfer by 3.6% in the 1st quarter. Diversified Trust Co now owns 26,305 shares of the pipeline company's stock valued at $294,000 after purchasing an additional 912 shares in the last quarter. Aveo Capital Partners LLC lifted its holdings in Energy Transfer by 1.0% in the 2nd quarter. Aveo Capital Partners LLC now owns 99,548 shares of the pipeline company's stock valued at $993,000 after purchasing an additional 950 shares in the last quarter. Tradition Wealth Management LLC raised its holdings in shares of Energy Transfer by 6.8% during the 2nd quarter. Tradition Wealth Management LLC now owns 15,062 shares of the pipeline company's stock worth $150,000 after acquiring an additional 955 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Energy Transfer by 1.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 102,980 shares of the pipeline company's stock worth $1,187,000 after acquiring an additional 980 shares during the period. Institutional investors and hedge funds own 38.80% of the company's stock.
About Energy Transfer
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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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