Sunbelt Securities Inc. Has $4.45 Million Stock Position in Energy Transfer LP (NYSE:ET)

Sunbelt Securities Inc. raised its position in shares of Energy Transfer LP (NYSE:ET) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 274,095 shares of the pipeline company’s stock after purchasing an additional 5,820 shares during the period. Sunbelt Securities Inc.’s holdings in Energy Transfer were worth $4,446,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Berkley W R Corp grew its stake in shares of Energy Transfer by 11.6% during the first quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock worth $83,912,000 after buying an additional 555,445 shares during the last quarter. NBC Securities Inc. grew its stake in shares of Energy Transfer by 4.3% during the first quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock worth $886,000 after buying an additional 2,326 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of 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 buying an additional 1,072,144 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Energy Transfer by 2.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 549,971 shares of the pipeline company’s stock worth $8,651,000 after buying an additional 15,097 shares during the last quarter. Finally, Nicolet Advisory Services LLC grew its stake in shares of Energy Transfer by 48.8% during the first quarter. Nicolet Advisory Services LLC now owns 17,464 shares of the pipeline company’s stock worth $275,000 after buying an additional 5,730 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

Shares of ET opened at $16.07 on Monday. 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 stock has a market capitalization of $54.16 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. The firm’s fifty day simple moving average is $16.04 and its two-hundred day simple moving average is $15.87. Energy Transfer LP has a 12 month low of $12.90 and a 12 month high of $16.50.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The firm had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same period last year, the company posted $0.25 EPS. As a group, analysts predict that Energy Transfer LP will post 1.35 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a yield of 7.97%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 117.43%.

Insider Buying and Selling at Energy Transfer

In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price 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 $9,270,188.48. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price 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 $9,270,188.48. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following 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. Over the last quarter, insiders have bought 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on ET shares. Morgan Stanley boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Mizuho boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. UBS Group boosted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. 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.com, Energy Transfer has an average rating of “Moderate Buy” and a consensus target price 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.