Energy Transfer LP $ET Shares Purchased by Advisory Services Network LLC

Advisory Services Network LLC increased its stake in shares of Energy Transfer LP (NYSE:ET) by 25.6% during the second quarter, Holdings Channel reports. The institutional investor owned 399,351 shares of the pipeline company’s stock after acquiring an additional 81,344 shares during the period. Advisory Services Network LLC’s holdings in Energy Transfer were worth $7,204,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. purchased a new stake in shares of Energy Transfer in the 2nd quarter worth about $31,000. CNB Bank lifted its holdings in shares of Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 1,000 shares in the last quarter. HHM Wealth Advisors LLC grew its position in shares of Energy Transfer by 54.4% in the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 800 shares during the last quarter. Crowley Wealth Management Inc. purchased a new position in shares of Energy Transfer during the 2nd quarter worth approximately $44,000. Finally, Pacific Center for Financial Services raised its position in shares of Energy Transfer by 34.7% during the 1st quarter. Pacific Center for Financial Services now owns 2,586 shares of the pipeline company’s stock worth $48,000 after purchasing an additional 666 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren acquired 1,000,000 shares of the stock in a transaction dated Wednesday, November 19th. The stock was bought at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the purchase, the director directly owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. This represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.28% of the stock is currently owned by company insiders.

Energy Transfer Stock Performance

NYSE ET opened at $16.56 on Monday. The business’s 50-day moving average price is $16.69 and its 200 day moving average price is $17.29. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The company has a market capitalization of $56.86 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 1.00 and a beta of 0.65.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The company had revenue of $19.95 billion for the quarter, compared to analyst estimates of $21.84 billion. Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. On average, research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were paid a dividend of $0.3325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date of this dividend was Friday, November 7th. Energy Transfer’s payout ratio is 106.40%.

Analysts Set New Price Targets

A number of brokerages have commented on ET. Morgan Stanley lowered their target price on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, December 2nd. JPMorgan Chase & Co. decreased their price objective on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Scotiabank reduced their target price on shares of Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a report on Thursday, November 13th. Finally, Jefferies Financial Group set a $17.00 price target on shares of Energy Transfer and gave the stock a “hold” rating in a report on Tuesday, October 28th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.62.

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.