Energy Transfer LP (NYSE:ET) Shares Acquired by Invst LLC

Invst LLC increased its holdings in Energy Transfer LP (NYSE:ET) by 26.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 17,647 shares of the pipeline company’s stock after acquiring an additional 3,683 shares during the quarter. Invst LLC’s holdings in Energy Transfer were worth $289,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. First Reserve GP XIII Ltd acquired a new stake in Energy Transfer during the fourth quarter valued at approximately $322,097,000. Tortoise Capital Advisors L.L.C. raised its stake 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 valued at $594,769,000 after buying an additional 4,141,715 shares in the last quarter. Natixis raised its stake in Energy Transfer by 20.0% during the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after buying an additional 2,999,300 shares in the last quarter. Payden & Rygel Investment Group acquired a new stake in Energy Transfer during the first quarter valued at approximately $20,164,000. Finally, Merewether Investment Management LP raised its stake in Energy Transfer by 22.3% during 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 in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Activity

In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the executive vice president now owns 591,211 shares in the company, 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 the SEC website. In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was 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 in the company, valued at $1,934,686,992. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregory G. Mcilwain purchased 20,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the purchase, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is owned by insiders.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $16.05 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. Energy Transfer LP has a 1 year low of $12.90 and a 1 year high of $16.50. The business has a fifty day simple moving average of $16.03 and a 200 day simple moving average of $15.88. The firm has a market cap of $54.07 billion, a price-to-earnings ratio of 14.72, a P/E/G ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted 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 company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. As a group, sell-side analysts predict that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a $0.32 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a dividend 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%.

Wall Street Analysts Forecast Growth

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