Ieq Capital LLC Has $3.21 Million Stock Position in Energy Transfer LP (NYSE:ET)

Ieq Capital LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 8.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 197,856 shares of the pipeline company’s stock after buying an additional 14,728 shares during the quarter. Ieq Capital LLC’s holdings in Energy Transfer were worth $3,209,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ET. LRI Investments LLC bought a new stake in shares of Energy Transfer during the first quarter worth $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in Energy Transfer during the 4th quarter worth $34,000. Adirondack Trust Co. acquired a new position in Energy Transfer in the 4th quarter worth about $42,000. EdgeRock Capital LLC bought a new position in Energy Transfer in the second quarter valued at about $42,000. Finally, Hudson Edge Investment Partners Inc. acquired a new stake in shares of Energy Transfer during the second quarter valued at about $42,000. Institutional investors own 38.22% of the company’s stock.

Insiders Place Their Bets

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

Energy Transfer Trading Up 0.2 %

ET opened at $16.20 on Friday. Energy Transfer LP has a twelve month low of $12.90 and a twelve month high of $16.50. The company has a fifty day moving average of $16.06 and a 200-day moving average of $15.83. The stock has a market cap of $54.59 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 0.46 and a beta of 1.66. 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 (NYSE:ET) last issued 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). The firm had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same period last year, the company posted $0.25 EPS. On average, sell-side analysts predict that Energy Transfer LP will post 1.4 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a $0.32 dividend. The ex-dividend date was Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.90%. Energy Transfer’s payout ratio is 117.43%.

Analysts Set New Price Targets

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