Blair William & Co. IL Boosts Holdings in Energy Transfer LP (NYSE:ET)

Blair William & Co. IL boosted its stake in Energy Transfer LP (NYSE:ET) by 9.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 449,772 shares of the pipeline company’s stock after acquiring an additional 37,927 shares during the period. Blair William & Co. IL’s holdings in Energy Transfer were worth $7,295,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ET. Aveo Capital Partners LLC grew its position in Energy Transfer by 1.3% during the 4th quarter. Aveo Capital Partners LLC now owns 133,559 shares of the pipeline company’s stock worth $1,843,000 after purchasing an additional 1,663 shares during the last quarter. 9258 Wealth Management LLC acquired a new position in Energy Transfer in the 4th quarter valued at about $645,000. D.A. Davidson & CO. raised its stake in Energy Transfer by 38.7% during the 4th quarter. D.A. Davidson & CO. now owns 208,553 shares of the pipeline company’s stock valued at $2,878,000 after acquiring an additional 58,147 shares during the last quarter. Corient Private Wealth LLC lifted its position in Energy Transfer by 1.7% during the 4th quarter. Corient Private Wealth LLC now owns 1,624,151 shares of the pipeline company’s stock worth $22,413,000 after acquiring an additional 26,575 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Energy Transfer by 6.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 1,207,751 shares of the pipeline company’s stock valued at $16,667,000 after purchasing an additional 71,530 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Transactions at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of Energy Transfer stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Gregory G. Mcilwain purchased 20,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the purchase, the director now directly owns 123,385,650 shares in the company, valued at $1,934,686,992. The disclosure for this purchase can be found here. Insiders bought 3,040,000 shares of company stock valued at $47,667,200 in the last 90 days. 3.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ET shares. UBS Group increased their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Morgan Stanley increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Finally, Mizuho raised their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.14.

Energy Transfer Stock Performance

Shares of ET opened at $16.20 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. Energy Transfer LP has a 52-week low of $12.90 and a 52-week high of $16.50. The company has a 50-day simple moving average of $16.06 and a 200-day simple moving average of $15.82. The company has a market capitalization of $54.58 billion, a PE ratio of 14.86, a P/E/G ratio of 0.46 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The firm had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same quarter in the prior year, the company earned $0.25 EPS. The business’s revenue was up 13.1% on a year-over-year basis. Equities research analysts predict that Energy Transfer LP will post 1.4 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.90%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 117.43%.

About Energy Transfer

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.