GM Advisory Group LLC Has $298,000 Stake in Energy Transfer LP (NYSE:ET)

GM Advisory Group LLC raised its stake in Energy Transfer LP (NYSE:ET) by 18.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,400 shares of the pipeline company’s stock after purchasing an additional 2,834 shares during the period. GM Advisory Group LLC’s holdings in Energy Transfer were worth $298,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tortoise Capital Advisors L.L.C. increased its holdings in shares of Energy Transfer by 12.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after purchasing an additional 4,141,715 shares during the last quarter. First Reserve GP XIII Ltd bought a new stake in shares of Energy Transfer in the fourth quarter valued at about $322,097,000. Natixis boosted its position in shares of Energy Transfer by 20.0% in the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after acquiring an additional 2,999,300 shares during the period. Westwood Holdings Group Inc. boosted its position in shares of Energy Transfer by 6.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 16,785,510 shares of the pipeline company’s stock valued at $231,640,000 after acquiring an additional 1,085,240 shares during the period. Finally, Chickasaw Capital Management LLC boosted its position in shares of Energy Transfer by 2.9% in the second quarter. Chickasaw Capital Management LLC now owns 14,883,956 shares of the pipeline company’s stock valued at $241,418,000 after acquiring an additional 425,323 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Energy Transfer news, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the purchase, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Gregory G. Mcilwain acquired 20,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following 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 90 days, insiders acquired 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Trading Up 0.2 %

ET opened at $16.20 on Friday. Energy Transfer LP has a twelve month low of $12.90 and a twelve month high of $16.50. The company has a 50-day simple moving average of $16.06 and a 200 day simple moving average of $15.82. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $54.58 billion, a price-to-earnings ratio of 14.86, a P/E/G 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 EPS 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%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 EPS. Analysts predict that Energy Transfer LP will post 1.4 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. Shareholders of record on Friday, August 9th were paid a dividend of $0.32 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 annualized dividend and a yield of 7.90%. Energy Transfer’s payout ratio is presently 117.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted 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 Thursday, June 20th. Mizuho boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Morgan Stanley upped 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 Monday, June 10th. Finally, UBS Group upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.14.

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.