1,888,076 Shares in Energy Transfer LP $ET Bought by Northside Capital Management LLC

Key Points

• Northside Capital Management LLC has acquired 1,888,076 shares of Energy Transfer LP, valued at approximately $34.2 million, making it the firm's 6th largest holding.
• Energy Transfer reported earnings of $0.32 per share for the last quarter, meeting analysts' expectations, but had a revenue of $19.24 billion, falling short of the anticipated $24.07 billion.
• The company recently increased its quarterly dividend to $0.33 per share, resulting in an annualized yield of 7.7%.

Northside Capital Management LLC bought a new position in Energy Transfer LP (NYSE:ET - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,888,076 shares of the pipeline company's stock, valued at approximately $34,231,000. Energy Transfer accounts for 2.6% of Northside Capital Management LLC's investment portfolio, making the stock its 6th biggest holding. Northside Capital Management LLC owned approximately 0.06% of Energy Transfer at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strong Tower Advisory Services bought a new position in shares of Energy Transfer during the first quarter valued at $2,604,000. Prevail Innovative Wealth Advisors LLC lifted its holdings in shares of Energy Transfer by 316.9% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company's stock valued at $2,181,000 after acquiring an additional 89,173 shares during the period. Northern Trust Corp lifted its holdings in shares of Energy Transfer by 223.5% during the first quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company's stock valued at $19,883,000 after acquiring an additional 738,885 shares during the period. Appaloosa LP lifted its holdings in shares of Energy Transfer by 0.9% during the first quarter. Appaloosa LP now owns 4,957,235 shares of the pipeline company's stock valued at $92,155,000 after acquiring an additional 42,500 shares during the period. Finally, Commerce Bank bought a new position in shares of Energy Transfer during the first quarter valued at $92,607,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Performance

Energy Transfer stock opened at $17.12 on Wednesday. The stock has a 50-day simple moving average of $17.52 and a 200 day simple moving average of $17.60. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The stock has a market capitalization of $58.75 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 1.01 and a beta of 0.85.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.32. The business had revenue of $19.24 billion during the quarter, compared to analysts' expectations of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The firm's revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 earnings per share. On average, research analysts anticipate 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 Tuesday, August 19th. Investors of record on Friday, August 8th were given a $0.33 dividend. The ex-dividend date was Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a yield of 7.7%. Energy Transfer's dividend payout ratio is 102.33%.

Analyst Ratings Changes

A number of brokerages have issued reports on ET. TD Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating and a $22.00 price objective for the company. Morgan Stanley cut their price objective on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Tuesday, August 26th. Scotiabank initiated coverage on Energy Transfer in a report on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 price objective for the company. Cowen initiated coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating for the company. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $22.50.

Insider Buying and Selling

In other news, Director Kelcy L. Warren acquired 1,350,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the transaction, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.28% of the stock is currently owned by insiders.

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.

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