Energy Transfer LP $ET Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. increased its position in shares of Energy Transfer LP (NYSE:ET) by 57.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 947,832 shares of the pipeline company’s stock after buying an additional 347,543 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Energy Transfer were worth $16,265,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC grew its stake in shares of Energy Transfer by 1.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company’s stock valued at $723,000 after purchasing an additional 565 shares during the last quarter. Bogart Wealth LLC lifted its stake in shares of Energy Transfer by 1.9% in the second quarter. Bogart Wealth LLC now owns 32,788 shares of the pipeline company’s stock valued at $594,000 after purchasing an additional 604 shares during the period. Quantum Private Wealth LLC boosted its stake in shares of Energy Transfer by 0.5% during the 2nd quarter. Quantum Private Wealth LLC now owns 116,515 shares of the pipeline company’s stock worth $2,112,000 after acquiring an additional 627 shares in the last quarter. HBK Sorce Advisory LLC boosted its position in Energy Transfer by 3.4% during the third quarter. HBK Sorce Advisory LLC now owns 19,018 shares of the pipeline company’s stock worth $321,000 after purchasing an additional 628 shares in the last quarter. Finally, Magnus Financial Group LLC boosted its position in shares of Energy Transfer by 2.0% in the 3rd quarter. Magnus Financial Group LLC now owns 31,430 shares of the pipeline company’s stock worth $539,000 after buying an additional 629 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Energy Transfer news, Director Kelcy L. Warren acquired 1,000,000 shares of Energy Transfer stock in a transaction dated Wednesday, November 19th. The stock was bought at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the transaction, the director owned 104,577,803 shares in the company, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. JPMorgan Chase & Co. dropped their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Monday, November 24th. Jefferies Financial Group set a $17.00 price target on Energy Transfer and gave the stock a “hold” rating in a research report on Tuesday, October 28th. Finally, Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.50.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $17.92 on Monday. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $20.55. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.14 and a current ratio of 1.41. The stock has a fifty day moving average price of $17.06 and a two-hundred day moving average price of $17.11. The firm has a market cap of $61.53 billion, a P/E ratio of 14.34, a PEG ratio of 0.93 and a beta of 0.66.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Friday, February 6th will be given a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 7.5%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, February 6th. Energy Transfer’s dividend payout ratio (DPR) is presently 107.20%.

Energy Transfer Profile

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.