Energy Transfer LP (NYSE:ET) Shares Bought by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC raised its position in Energy Transfer LP (NYSE:ET) by 4.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 69,107 shares of the pipeline company’s stock after buying an additional 3,024 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Energy Transfer were worth $1,121,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Reserve GP XIII Ltd acquired a new stake in Energy Transfer in the fourth quarter valued at $322,097,000. Tortoise Capital Advisors L.L.C. increased its position in Energy Transfer by 12.7% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after buying an additional 4,141,715 shares in the last quarter. Natixis increased its position in Energy Transfer by 20.0% during the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after purchasing an additional 2,999,300 shares in the last quarter. Payden & Rygel Investment Group acquired a new position in Energy Transfer in the 1st quarter valued at about $20,164,000. Finally, Merewether Investment Management LP raised its position in shares of Energy Transfer by 22.3% in the second quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock valued at $106,919,000 after buying an additional 1,200,501 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Trading Down 0.2 %

Shares of ET opened at $16.05 on Tuesday. The stock has a 50-day moving average price of $16.03 and a 200 day moving average price of $15.88. Energy Transfer LP has a one year low of $12.90 and a one year high of $16.50. The company has a market capitalization of $54.07 billion, a P/E ratio of 14.72, a P/E/G ratio of 0.50 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $20.73 billion for the quarter, compared to analyst estimates 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 company earned $0.25 EPS. Sell-side analysts forecast that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a $0.32 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.98%. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s dividend payout ratio (DPR) is currently 117.43%.

Insider Activity at Energy Transfer

In other news, CEO Thomas E. Long bought 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Thomas E. Long acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, with a total value of $313,600.00. Following the purchase, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the 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 transaction, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,040,000 shares of company stock worth $47,667,200 over the last ninety days. 3.28% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ET. Mizuho increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Morgan Stanley lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. UBS Group upped their price target on 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. increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus 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.