DMC Group LLC Makes New Investment in Energy Transfer LP $ET

DMC Group LLC bought a new position in shares of Energy Transfer LP (NYSE:ET) in the third quarter, HoldingsChannel reports. The firm bought 30,000 shares of the pipeline company’s stock, valued at approximately $515,000.

Other institutional investors have also recently modified their holdings of the company. CNB Bank raised its position in Energy Transfer by 111.1% in 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 in the last quarter. HHM Wealth Advisors LLC boosted its position in shares of Energy Transfer by 54.4% during the 2nd quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 800 shares in the last quarter. Crowley Wealth Management Inc. acquired a new position in shares of Energy Transfer during the 2nd quarter worth $44,000. FSC Wealth Advisors LLC purchased a new position in shares of Energy Transfer in the 2nd quarter valued at about $50,000. Finally, Oakworth Capital Inc. acquired a new stake in shares of Energy Transfer in the second quarter valued at about $52,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley lowered their target price on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 2nd. JPMorgan Chase & Co. lowered their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a report on Friday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Energy Transfer in a research report on Wednesday, December 24th. Finally, Barclays reissued an “overweight” rating and issued a $22.00 target price (down previously from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Energy Transfer Stock Down 0.7%

Shares of NYSE:ET opened at $17.33 on Friday. 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 company has a market capitalization of $59.50 billion, a P/E ratio of 13.86, a P/E/G ratio of 0.90 and a beta of 0.66. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The stock’s fifty day simple moving average is $16.64 and its 200-day simple moving average is $17.07.

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 analysts’ expectations of $21.84 billion. Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 EPS. As a group, equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were paid a dividend of $0.3325 per share. The ex-dividend date of this dividend was Friday, November 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 annualized dividend and a dividend yield of 7.7%. Energy Transfer’s payout ratio is currently 106.40%.

Insider Activity

In other news, Director Kelcy L. Warren bought 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were purchased at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the transaction, the director owned 104,577,803 shares in the company, valued at $1,772,593,760.85. The trade was 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. Insiders own 3.28% of the company’s stock.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.