Howard Financial Services LTD. Purchases 17,938 Shares of Energy Transfer LP (NYSE:ET)

Howard Financial Services LTD. increased its position in Energy Transfer LP (NYSE:ET) by 11.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 181,172 shares of the pipeline company’s stock after buying an additional 17,938 shares during the period. Howard Financial Services LTD.’s holdings in Energy Transfer were worth $2,908,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ET. Evercore Wealth Management LLC purchased a new position in Energy Transfer during the fourth quarter valued at $159,000. XML Financial LLC increased its holdings in shares of Energy Transfer by 2.9% in the fourth quarter. XML Financial LLC now owns 42,262 shares of the pipeline company’s stock worth $583,000 after purchasing an additional 1,179 shares during the last quarter. Icon Wealth Advisors LLC purchased a new stake in shares of Energy Transfer in the fourth quarter worth about $2,322,000. BOKF NA boosted its stake in Energy Transfer by 0.5% during the fourth quarter. BOKF NA now owns 642,538 shares of the pipeline company’s stock valued at $8,867,000 after buying an additional 3,252 shares during the last quarter. Finally, Tortoise Index Solutions LLC grew its holdings in Energy Transfer by 11.4% during the 4th quarter. Tortoise Index Solutions LLC now owns 1,567,042 shares of the pipeline company’s stock valued at $21,625,000 after buying an additional 160,341 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.4 %

Shares of ET opened at $16.23 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The business has a fifty day moving average of $16.03 and a 200 day moving average of $15.90. The company has a market cap of $54.70 billion, a PE ratio of 14.83, a P/E/G ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a 52-week low of $12.90 and a 52-week high of $16.50.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (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 the consensus estimate of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. Energy Transfer’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. On average, sell-side analysts expect that Energy Transfer LP will post 1.35 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 7.89%. The ex-dividend date was Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is 117.43%.

Analyst Ratings Changes

Several analysts have recently issued reports on ET shares. UBS Group upped their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. increased 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 Thursday, June 20th. Finally, Mizuho upped their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $20.00.

Insider Activity

In other Energy Transfer news, 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 cost of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Kelcy L. Warren purchased 3,000,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the stock in a transaction on Friday, August 23rd. 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 transaction, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. 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 90 days, insiders have acquired 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is currently owned by insiders.

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.