Cwm LLC Raises Position in Energy Transfer LP (NYSE:ET)

Cwm LLC lifted its stake in Energy Transfer LP (NYSE:ET) by 60.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,436 shares of the pipeline company’s stock after purchasing an additional 37,136 shares during the period. Cwm LLC’s holdings in Energy Transfer were worth $1,580,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. LRI Investments LLC purchased a new position in Energy Transfer during the first quarter valued at approximately $29,000. HWG Holdings LP purchased a new position in shares of Energy Transfer during the 2nd quarter valued at $33,000. Sugarloaf Wealth Management LLC lifted its stake in shares of Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after buying an additional 750 shares in the last quarter. EdgeRock Capital LLC bought a new position in Energy Transfer in the 2nd quarter worth $42,000. Finally, Hudson Edge Investment Partners Inc. purchased a new stake in Energy Transfer in the 2nd quarter worth $42,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Performance

NYSE ET opened at $16.37 on Wednesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. Energy Transfer LP has a 1-year low of $12.90 and a 1-year high of $16.64. The business has a 50 day simple moving average of $16.07 and a two-hundred day simple moving average of $15.93. The stock has a market capitalization of $55.17 billion, a PE ratio of 15.02, 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The business had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the business posted $0.25 earnings per share. On average, research analysts predict 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. Stockholders of record on Friday, August 9th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 7.82%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. Energy Transfer’s dividend payout ratio is currently 117.43%.

Insider Activity at Energy Transfer

In related news, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost 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 in the company, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kelcy L. Warren acquired 3,000,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now directly owns 123,385,650 shares in the company, valued at $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 3,040,000 shares of company stock valued at $47,667,200. Insiders own 3.28% of the company’s stock.

Wall Street Analysts Forecast Growth

ET has been the subject of a number of recent analyst reports. Mizuho upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. JPMorgan Chase & Co. upped their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Finally, UBS Group lifted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $20.00.

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.