Glass Jacobson Investment Advisors llc Lowers Position in Energy Transfer LP (NYSE:ET)

Glass Jacobson Investment Advisors llc trimmed its position in shares of Energy Transfer LP (NYSE:ET) by 5.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,071 shares of the pipeline company’s stock after selling 1,585 shares during the quarter. Glass Jacobson Investment Advisors llc’s holdings in Energy Transfer were worth $407,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ET. LRI Investments LLC purchased a new position in Energy Transfer during the first quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Energy Transfer during the 4th quarter worth approximately $34,000. Adirondack Trust Co. purchased a new position in shares of Energy Transfer during the 4th quarter valued at approximately $42,000. EdgeRock Capital LLC acquired a new stake in Energy Transfer in the 2nd quarter valued at $42,000. Finally, Hudson Edge Investment Partners Inc. purchased a new stake in Energy Transfer in the 2nd quarter worth $42,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain acquired 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, 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 cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, for a total transaction 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 disclosure for this purchase can be found here. Over the last three months, insiders have acquired 3,040,000 shares of company stock worth $47,667,200. Insiders own 3.28% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ET. Morgan Stanley lifted their target price 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 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. JPMorgan Chase & Co. boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Finally, Mizuho raised their target price on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average target price of $19.14.

Energy Transfer Stock Up 0.6 %

ET stock opened at $16.11 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. The firm has a 50-day moving average of $16.06 and a two-hundred day moving average of $15.81. Energy Transfer LP has a 12 month low of $12.90 and a 12 month high of $16.50. The company has a market cap of $54.29 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 0.46 and a beta of 1.66.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same period last year, the business earned $0.25 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. As a group, analysts forecast that Energy Transfer LP will post 1.4 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders 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 7.95%. The ex-dividend date of this dividend 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 presently 117.43%.

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.