30,551 Shares in Energy Transfer LP (NYSE:ET) Bought by Magnolia Capital Advisors LLC

Magnolia Capital Advisors LLC acquired a new position in shares of Energy Transfer LP (NYSE:ET) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,551 shares of the pipeline company’s stock, valued at approximately $496,000.

Other institutional investors and hedge funds have also modified their holdings of the company. LRI Investments LLC bought a new stake in shares of Energy Transfer during the 1st quarter worth $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in Energy Transfer in the 4th quarter worth about $34,000. Hudson Edge Investment Partners Inc. acquired a new position in Energy Transfer in the 2nd quarter worth about $42,000. EdgeRock Capital LLC acquired a new position in Energy Transfer in the 2nd quarter worth about $42,000. Finally, Adirondack Trust Co. acquired a new position in Energy Transfer in the 4th quarter worth about $42,000. 38.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ET. JPMorgan Chase & Co. upped their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Mizuho upped their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Morgan Stanley upped their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Finally, UBS Group increased their price target on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.14.

Energy Transfer Trading Down 0.2 %

Shares of ET stock opened at $16.05 on Tuesday. The stock has a market cap of $54.07 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 0.50 and a beta of 1.66. The stock has a 50-day moving average of $16.03 and a 200-day moving average of $15.88. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. Energy Transfer LP has a 1-year low of $12.90 and a 1-year high of $16.50.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. During the same period in the prior year, the business earned $0.25 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities research analysts forecast that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 annualized dividend and a yield of 7.98%. 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%.

Insider Buying and Selling

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

Energy Transfer 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.