Corient Private Wealth LLC Raises Stock Position in Energy Transfer LP $ET

Corient Private Wealth LLC grew its holdings in Energy Transfer LP (NYSE:ET) by 223.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,690,771 shares of the pipeline company’s stock after purchasing an additional 1,168,440 shares during the quarter. Corient Private Wealth LLC’s holdings in Energy Transfer were worth $30,654,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Ryan Investment Management Inc. acquired a new stake in Energy Transfer during the 2nd quarter worth approximately $31,000. CNB Bank increased its position in shares of Energy Transfer by 111.1% during the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 1,000 shares during the period. HHM Wealth Advisors LLC increased its position in shares of Energy Transfer by 54.4% during the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 800 shares during the period. Crowley Wealth Management Inc. acquired a new stake in shares of Energy Transfer in the second quarter valued at $44,000. Finally, Pacific Center for Financial Services raised its stake in shares of Energy Transfer by 34.7% in the first quarter. Pacific Center for Financial Services now owns 2,586 shares of the pipeline company’s stock valued at $48,000 after acquiring an additional 666 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on ET shares. Jefferies Financial Group set a $17.00 target price on Energy Transfer and gave the stock a “hold” rating in a research note on Tuesday, October 28th. Barclays reiterated an “overweight” rating and issued a $25.00 price objective on shares of Energy Transfer in a research note on Wednesday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research note 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, UBS Group reiterated a “buy” rating and issued a $22.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.62.

Energy Transfer Price Performance

ET stock opened at $16.36 on Wednesday. The business has a 50 day moving average price of $16.68 and a 200 day moving average price of $17.27. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 1.50. The stock has a market cap of $56.15 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 0.99 and a beta of 0.65. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.06). The company had revenue of $19.95 billion during the quarter, compared to analysts’ expectations of $21.84 billion. Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. Equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were given a $0.3325 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 8.1%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, November 7th. Energy Transfer’s dividend payout ratio is presently 106.40%.

Insider Transactions at Energy Transfer

In other news, Director Kelcy L. Warren acquired 1,000,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the acquisition, the director owned 104,577,803 shares in the company, valued at $1,772,593,760.85. This trade represents a 0.97% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.28% of the stock is owned by corporate insiders.

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.