Axiom Advisory LLC Purchases 1,248 Shares of Energy Transfer LP (NYSE:ET)

Axiom Advisory LLC lifted its holdings in Energy Transfer LP (NYSE:ET) by 3.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,466 shares of the pipeline company’s stock after purchasing an additional 1,248 shares during the period. Axiom Advisory LLC’s holdings in Energy Transfer were worth $571,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. LRI Investments LLC acquired a new stake in Energy Transfer in the 1st quarter worth $29,000. HWG Holdings LP acquired a new stake in Energy Transfer during the second quarter worth about $33,000. Ables Iannone Moore & Associates Inc. bought a new position in Energy Transfer during the fourth quarter valued at about $34,000. Adirondack Trust Co. acquired a new position in Energy Transfer in the 4th quarter valued at approximately $42,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Energy Transfer in the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Down 0.4 %

Shares of NYSE ET opened at $16.16 on Wednesday. The business has a fifty day moving average of $16.03 and a two-hundred day moving average of $15.90. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. Energy Transfer LP has a 52-week low of $12.90 and a 52-week high of $16.50. The stock has a market cap of $54.46 billion, a PE ratio of 14.83, a PEG ratio of 0.50 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 EPS 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 firm had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same quarter last year, the firm earned $0.25 earnings per share. Energy Transfer’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, equities research analysts expect that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a $0.32 dividend. This is an increase 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 yield of 7.92%. Energy Transfer’s payout ratio is presently 117.43%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Mizuho boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their price target 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. Finally, UBS Group lifted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Energy Transfer presently has an average rating of “Buy” and a consensus price target of $20.00.

Insider Transactions at Energy Transfer

In other Energy Transfer news, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired 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 of the company’s stock, valued at $67,562,909.12. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired 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 $1,934,686,992. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas E. Long acquired 20,000 shares of the 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 $313,600.00. Following the completion of the transaction, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 3,040,000 shares of company stock worth $47,667,200. 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.