NewEdge Advisors LLC Raises Position in Energy Transfer LP (NYSE:ET)

NewEdge Advisors LLC increased its holdings in Energy Transfer LP (NYSE:ET) by 10.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 483,337 shares of the pipeline company’s stock after purchasing an additional 45,994 shares during the period. NewEdge Advisors LLC’s holdings in Energy Transfer were worth $7,840,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Berkley W R Corp lifted its holdings in shares of Energy Transfer by 11.6% during the 1st quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock worth $83,912,000 after acquiring an additional 555,445 shares during the period. NBC Securities Inc. raised its stake in Energy Transfer by 4.3% during the first quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock worth $886,000 after purchasing an additional 2,326 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Energy Transfer by 491.3% in the 1st quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock valued at $20,297,000 after purchasing an additional 1,072,144 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Energy Transfer by 2.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 549,971 shares of the pipeline company’s stock valued at $8,651,000 after buying an additional 15,097 shares during the period. Finally, Nicolet Advisory Services LLC increased its holdings in shares of Energy Transfer by 48.8% during the 1st quarter. Nicolet Advisory Services LLC now owns 17,464 shares of the pipeline company’s stock worth $275,000 after buying an additional 5,730 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Down 0.2 %

NYSE ET opened at $16.05 on Tuesday. 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 fifty-two week low of $12.90 and a fifty-two week high of $16.50. The business has a 50 day moving average price of $16.03 and a two-hundred day moving average price of $15.88. The stock has a market cap of $54.07 billion, a PE ratio of 14.72, a P/E/G ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. During the same quarter last year, the company posted $0.25 earnings per share. Energy Transfer’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, sell-side analysts predict that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Increases Dividend

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

Insider Activity at Energy Transfer

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

Wall Street Analyst Weigh In

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

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.