Summit Trail Advisors LLC Purchases 21,356 Shares of Energy Transfer LP (NYSE:ET)

Summit Trail Advisors LLC grew its position in Energy Transfer LP (NYSE:ET) by 127.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,114 shares of the pipeline company’s stock after purchasing an additional 21,356 shares during the period. Summit Trail Advisors LLC’s holdings in Energy Transfer were worth $618,000 at the end of the most recent quarter.

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

Energy Transfer Stock Up 0.2 %

Shares of ET opened at $16.20 on Monday. The firm has a market cap of $54.59 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 0.46 and a beta of 1.66. 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 firm’s 50-day simple moving average is $16.06 and its 200 day simple moving average is $15.83.

Energy Transfer (NYSE:ET) last posted 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). The firm had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. Energy Transfer’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. On average, analysts forecast that Energy Transfer LP will post 1.4 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.90%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 117.43%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ET shares. Mizuho increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Morgan Stanley lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. UBS Group upped their target price 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. lifted 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. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.14.

Insider Activity

In other Energy Transfer news, CEO Thomas E. Long purchased 20,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost 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 in the company, valued at $67,562,909.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kelcy L. Warren acquired 3,000,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas E. Long bought 20,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, for a total transaction 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 $67,562,909.12. 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. 3.28% of the stock is owned by company insiders.

Energy Transfer Company 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.