Insider Buying: Energy Transfer LP (NYSE:ET) Director Purchases 25,892 Shares of Stock

Energy Transfer LP (NYSE:ET) Director James Richard Perry purchased 25,892 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was bought at an average cost of $13.52 per share, with a total value of $350,059.84. Following the acquisition, the director now owns 25,892 shares of the company’s stock, valued at approximately $350,059.84. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

James Richard Perry also recently made the following trade(s):

• On Friday, June 13th, James Richard Perry sold 1,369 shares of Energy Transfer stock. The shares were sold at an average price of $18.48, for a total value of $25,299.12.

Energy Transfer Trading Down 1.3%

Energy Transfer stock opened at $17.91 on Wednesday. The firm has a market cap of $61.45 billion, a PE ratio of 13.56, a P/E/G ratio of 0.59 and a beta of 0.78. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The stock’s 50 day simple moving average is $17.41 and its two-hundred day simple moving average is $18.57. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.41.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $21.02 billion during the quarter, compared to analysts’ expectations of $22.28 billion. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. Analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were paid a dividend of $0.3275 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a dividend yield of 7.32%. The ex-dividend date was Friday, May 9th. Energy Transfer’s dividend payout ratio is presently 99.24%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ET. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. JPMorgan Chase & Co. dropped their target price on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. Morgan Stanley raised their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Finally, Wells Fargo & Company dropped their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average target price of $22.64.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors have recently modified their holdings of ET. Bank of Montreal Can grew its stake in Energy Transfer by 12,090.8% in the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company’s stock valued at $244,005,000 after acquiring an additional 12,353,441 shares during the period. Alps Advisors Inc. lifted its holdings in Energy Transfer by 12.9% during 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 purchasing an additional 8,613,645 shares in the last quarter. FMR LLC grew its position in shares of Energy Transfer by 15.7% in the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock valued at $756,840,000 after purchasing an additional 5,254,721 shares during the period. Commerce Bank purchased a new stake in shares of Energy Transfer during the first quarter worth about $92,607,000. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of Energy Transfer during the 4th quarter worth about $79,113,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.