Traders Purchase High Volume of Call Options on Energy Transfer (NYSE:ET)

Energy Transfer LP (NYSE:ETGet Rating) was the target of unusually large options trading activity on Thursday. Stock traders bought 363,770 call options on the company. This is an increase of 270% compared to the typical daily volume of 98,248 call options.

Energy Transfer Trading Down 0.5 %

ET opened at $10.82 on Friday. The company’s 50 day moving average is $10.65 and its 200-day moving average is $10.63. Energy Transfer has a 1-year low of $7.96 and a 1-year high of $12.48. The company has a current ratio of 1.14, a quick ratio of 1.00 and a debt-to-equity ratio of 1.43. The company has a market cap of $33.39 billion, a P/E ratio of 8.66 and a beta of 1.90.

Energy Transfer (NYSE:ETGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. Energy Transfer had a net margin of 4.83% and a return on equity of 12.19%. The company had revenue of $20.49 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same period last year, the company posted $1.14 EPS. The firm’s quarterly revenue was up 20.6% compared to the same quarter last year. Equities research analysts predict that Energy Transfer will post 1.28 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Monday, August 8th will be paid a $0.23 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.50%. The ex-dividend date is Friday, August 5th. Energy Transfer’s dividend payout ratio (DPR) is presently 64.00%.

Analyst Ratings Changes

A number of research firms recently commented on ET. Barclays lowered their price target on shares of Energy Transfer from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. US Capital Advisors reissued a “buy” rating on shares of Energy Transfer in a report on Wednesday, June 1st. Finally, Morgan Stanley raised their target price 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. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $14.25.

Insider Buying and Selling

In other Energy Transfer news, Director Richard D. Brannon purchased 26,027 shares of the stock in a transaction that occurred on Thursday, July 14th. The shares were acquired 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 owns 388,347 shares in the company, valued at $3,677,646.09. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Energy Transfer

A number of hedge funds have recently made changes to their positions in ET. Oak Harvest Investment Services boosted its position in Energy Transfer by 2.1% during the 1st quarter. Oak Harvest Investment Services now owns 40,395 shares of the pipeline company’s stock worth $452,000 after buying an additional 840 shares during the period. Diversified Trust Co boosted its position in Energy Transfer by 3.6% during the 1st quarter. Diversified Trust Co now owns 26,305 shares of the pipeline company’s stock worth $294,000 after buying an additional 912 shares during the period. Aveo Capital Partners LLC boosted its position in Energy Transfer by 1.0% during the 2nd quarter. Aveo Capital Partners LLC now owns 99,548 shares of the pipeline company’s stock worth $993,000 after buying an additional 950 shares during the period. Tradition Wealth Management LLC boosted its position in 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 buying an additional 955 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in 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 buying an additional 980 shares during the period. 48.40% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Company Profile

(Get Rating)

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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