Choreo LLC Raises Stock Position in Energy Transfer LP (NYSE:ET)

Choreo LLC boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 172.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 54,722 shares of the pipeline company’s stock after acquiring an additional 34,664 shares during the quarter. Choreo LLC’s holdings in Energy Transfer were worth $895,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Wedbush Securities Inc. grew its stake in Energy Transfer by 28.5% during the 2nd quarter. Wedbush Securities Inc. now owns 87,942 shares of the pipeline company’s stock valued at $1,426,000 after acquiring an additional 19,528 shares in the last quarter. PFG Investments LLC raised its stake in Energy Transfer by 83.9% during the 2nd quarter. PFG Investments LLC now owns 212,218 shares of the pipeline company’s stock worth $3,442,000 after acquiring an additional 96,806 shares in the last quarter. X Square Capital LLC acquired a new stake in shares of Energy Transfer in the 2nd quarter valued at about $560,000. Poplar Forest Capital LLC grew its stake in Energy Transfer by 39.6% during the 2nd quarter. Poplar Forest Capital LLC now owns 26,450 shares of the pipeline company’s stock worth $429,000 after buying an additional 7,500 shares during the last quarter. Finally, Ausdal Financial Partners Inc. boosted its holdings in shares of Energy Transfer by 4.5% in the second quarter. Ausdal Financial Partners Inc. now owns 38,726 shares of the pipeline company’s stock valued at $628,000 after acquiring an additional 1,683 shares during the period. 38.22% of the stock is owned by institutional investors.

Energy Transfer Price Performance

ET opened at $16.17 on Friday. The firm has a market cap of $55.34 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 0.46 and a beta of 1.66. Energy Transfer LP has a fifty-two week low of $12.90 and a fifty-two week high of $16.50. The company’s 50-day moving average price is $16.06 and its 200 day moving average price is $15.77. 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 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). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The firm had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. During the same quarter last year, the company posted $0.25 EPS. Energy Transfer’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, sell-side analysts expect that Energy Transfer LP will post 1.4 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were issued a $0.32 dividend. The ex-dividend date was Friday, August 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a dividend yield of 7.92%. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ET. Mizuho upped their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. upped their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Finally, Morgan Stanley lifted their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Insider Activity

In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the acquisition, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of Energy Transfer stock in a transaction that occurred on Friday, August 23rd. 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 executive vice president now 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. Also, Director Kelcy L. Warren bought 3,000,000 shares of Energy Transfer stock in a transaction that occurred on 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 acquisition, 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. Insiders purchased 3,040,000 shares of company stock worth $47,667,200 over the last three months. Corporate 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.