Fourth Quarter Earnings on Deck
Energy Transfer, a pipeline company traded on the New York Stock Exchange (ET:NYE) under the ticker symbol ET, is set to release its earnings data after the market closes on February 15th.
Energy Transfer Stock Forecast:
Analysts have forecasted the company to report earnings of $0.33 per share for the quarter. On Wednesday, Energy Transfer stock opened at $12.85.
Energy Transfer has a market cap of $39.69 billion and a P/E ratio of 9.58. The stock has a 50-day simple moving average of $12.32 and a 200-day simple moving average of $11.94.
Additionally, the company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86, and a current ratio of 1.08.
ET Dividend Announcement:
The company recently declared a quarterly dividend, which is scheduled to be paid on February 21st to stockholders of record on February 7th. The ex-dividend date is on February 6th, and the dividend amounts to $0.305 per share, representing a $1.22 annualized dividend and a yield of 9.49%.
This marks an increase from Energy Transfer’s previous quarterly dividend of $0.27, and its dividend payout ratio is 79.11%.
Insider Transactions:
Insider activity has also been notable in the company, with CFO Bradford D. Whitehurst purchasing 5,000 shares of ET stock in a transaction on December 6th at an average price of $12.00 per share, totaling $60,000.00. This acquisition was disclosed in a filing with the Securities & Exchange Commission (SEC), which is available on the SEC website.
In a separate transaction on November 22nd, Chairman Kelcy L. Warren acquired 500,000 shares of the company’s stock at an average price of $12.36 per share, for a total value of $6,180,000.00. This purchase was also disclosed in a filing with the SEC.
In the past 90 days, insiders have purchased a total of 585,000 shares of Energy Transfer stock valued at $7,164,000.00.
Currently, insiders own 3.28% of the Energy Transfer stock.
Hedge Funds & Institutional Holdings:
Several hedge funds have recently modified their holdings of ET. Bank of New York Mellon Corp, Cibc World Market Inc., Blair William & Co. IL, Cetera Investment Advisers, and NewEdge Advisors LLC have all increased their holdings in Energy Transfer stock.
37.81% of the company’s stock is currently owned by institutional investors and hedge funds.
Energy Transfer Stock-Analyst Ratings:
Energy Transfer has also been the subject of recent analyst reports, with Mizuho raising their price target from $15.00 to $17.00 and giving the company a “buy” rating, while Morgan Stanley lifted their target price from $17.00 to $18.00 and gave the stock an “overweight” rating. Citigroup also assumed coverage on Energy Transfer stock, issuing a “buy” rating and a $16.00 target price for the company.
Company Profile:
Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, three natural gas storage facilities in Texas two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.
The company was formerly known as Energy Transfer Equity, L.P., and changed its name to Energy Transfer LP in October 2018. The company was founded in 1996 and is headquartered in Dallas, Texas.
