Secure Asset Management LLC Takes Position in Energy Transfer LP (NYSE:ET)

Secure Asset Management LLC acquired a new position in shares of Energy Transfer LP (NYSE:ET) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 14,128 shares of the pipeline company’s stock, valued at approximately $227,000.

A number of other hedge funds have also recently added to or reduced their stakes in ET. Tortoise Capital Advisors L.L.C. increased its position in 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 worth $594,769,000 after buying an additional 4,141,715 shares during the period. Natixis lifted 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 purchasing an additional 2,999,300 shares during the last quarter. Payden & Rygel Investment Group bought a new stake in shares of Energy Transfer during the 1st quarter worth $20,164,000. Merewether Investment Management LP increased its stake in Energy Transfer by 22.3% in the 2nd quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock worth $106,919,000 after purchasing an additional 1,200,501 shares in the last quarter. Finally, Progeny 3 Inc. increased its position in shares of Energy Transfer by 104.6% in the first quarter. Progeny 3 Inc. now owns 2,205,785 shares of the pipeline company’s stock worth $34,697,000 after acquiring an additional 1,127,500 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ET shares. Bank of America began coverage on Energy Transfer in a report on Thursday. They set a “buy” rating and a $20.00 price target on the stock. Royal Bank of Canada upped their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, UBS Group raised their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $20.00.

Insiders Place Their Bets

In other news, CEO Thomas E. Long purchased 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Energy Transfer news, CEO Thomas E. Long acquired 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kelcy L. Warren bought 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now 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. Insiders purchased 3,040,000 shares of company stock valued at $47,667,200 over the last 90 days. 3.28% of the stock is currently owned by company insiders.

Energy Transfer Stock Performance

Shares of ET opened at $16.41 on Friday. The firm has a market cap of $55.30 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. The company’s fifty day moving average is $16.11 and its 200-day moving average is $15.95. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. Energy Transfer LP has a 12 month low of $12.90 and a 12 month high of $16.64.

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). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. During the same period in the previous year, the company earned $0.25 earnings per share. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities analysts expect that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.80%. 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. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

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.