Energy Transfer LP (NYSE:ET) Shares Acquired by Invst LLC

Invst LLC lifted its holdings in shares of Energy Transfer LP (NYSE:ET) by 26.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,647 shares of the pipeline company’s stock after buying an additional 3,683 shares during the quarter. Invst LLC’s holdings in Energy Transfer were worth $289,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ET. 9258 Wealth Management LLC purchased a new stake in Energy Transfer in the 4th quarter valued at $645,000. Focus Financial Network Inc. ADV purchased a new stake in Energy Transfer in the 4th quarter valued at $288,000. Jones Financial Companies Lllp purchased a new stake in Energy Transfer in the 4th quarter valued at $423,000. Cornerstone Advisory LLC grew its holdings in shares of Energy Transfer by 12.8% during the 4th quarter. Cornerstone Advisory LLC now owns 60,451 shares of the pipeline company’s stock worth $834,000 after purchasing an additional 6,881 shares during the period. Finally, Belpointe Asset Management LLC grew its holdings in shares of Energy Transfer by 19.3% during the 4th quarter. Belpointe Asset Management LLC now owns 96,795 shares of the pipeline company’s stock worth $1,336,000 after purchasing an additional 15,643 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Thomas E. Long acquired 20,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the chief executive officer now owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. 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 chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. 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 business’s stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is owned by insiders.

Energy Transfer Trading Down 0.2 %

Shares of ET stock opened at $16.05 on Tuesday. The business’s 50 day moving average is $16.03 and its two-hundred day moving average is $15.88. Energy Transfer LP has a twelve month low of $12.90 and a twelve month high of $16.50. The company has a market capitalization of $54.07 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. 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 (NYSE:ET) last posted 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 net margin of 5.19% and a return on equity of 12.74%. The business had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. During the same quarter last year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities analysts forecast that Energy Transfer LP will post 1.35 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, August 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.98%. Energy Transfer’s payout ratio is currently 117.43%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ET. JPMorgan Chase & Co. increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Morgan Stanley increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. 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, September 18th. Finally, Mizuho increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus price target of $19.14.

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.