Oliver Lagore Vanvalin Investment Group Increases Holdings in Energy Transfer LP (NYSE:ET)

Oliver Lagore Vanvalin Investment Group boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 53.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 9,221 shares of the pipeline company’s stock after purchasing an additional 3,219 shares during the period. Oliver Lagore Vanvalin Investment Group’s holdings in Energy Transfer were worth $150,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in ET. Berkley W R Corp raised its stake in shares of Energy Transfer by 11.6% in the first quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock valued at $83,912,000 after buying an additional 555,445 shares during the period. NBC Securities Inc. raised its stake in Energy Transfer by 4.3% in the 1st quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock valued at $886,000 after acquiring an additional 2,326 shares during the period. US Bancorp DE lifted its holdings in Energy Transfer by 95.8% during the fourth quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock valued at $2,013,000 after purchasing an additional 71,386 shares during the last quarter. Cetera Investment Advisers boosted its position in Energy Transfer by 491.3% during the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock worth $20,297,000 after purchasing an additional 1,072,144 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Energy Transfer by 2.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 549,971 shares of the pipeline company’s stock worth $8,651,000 after purchasing an additional 15,097 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

NYSE:ET opened at $16.07 on Friday. Energy Transfer LP has a 52-week low of $12.90 and a 52-week high of $16.50. The stock has a fifty day moving average of $16.04 and a 200 day moving average of $15.86. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The firm has a market capitalization of $54.16 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data 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 business had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. During the same period in the previous year, the firm posted $0.25 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, research analysts expect that Energy Transfer LP will post 1.35 EPS for the current fiscal 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 dividend of $0.32 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.97%. The ex-dividend date was Friday, August 9th. Energy Transfer’s payout ratio is currently 117.43%.

Insider Buying and Selling

In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the 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 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 document filed with the SEC, which is accessible through this link. In related news, CEO Thomas E. Long purchased 20,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the transaction, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, 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. Over the last ninety days, insiders purchased 3,040,000 shares of company stock worth $47,667,200. Corporate insiders own 3.28% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ET. Mizuho upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. JPMorgan Chase & Co. increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Morgan Stanley boosted 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. Finally, UBS Group raised their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.14.

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.