Pathway Financial Advisers LLC raised its position in Energy Transfer LP (NYSE:ET – Free Report) 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 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.
Get Our Latest Report on Energy Transfer
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.
Read More
- Five stocks we like better than Energy Transfer
- What is a Special Dividend?
- TJX Stock: A Buying Opportunity Before the Holiday Rush
- How to Effectively Use the MarketBeat Ratings Screener
- Micron’s Blowout Results Pave the Way for Seagate’s Stock Surge
- 5 Top Rated Dividend Stocks to Consider
- Zeta Global’s AI Cloud: Your Secret Weapon for Massive Growth
Want to see what other hedge funds are holding ET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer LP (NYSE:ET – Free Report).
Receive News & Ratings for Energy Transfer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Transfer and related companies with MarketBeat.com's FREE daily email newsletter.