Integrity Alliance LLC. Takes $443,000 Position in Energy Transfer LP $ET

Key Points

• Integrity Alliance LLC has purchased 23,815 shares of Energy Transfer LP, valued at approximately $443,000, indicating continued interest from institutional investors in the company's stock.
• Energy Transfer recently declared a quarterly dividend of $0.33, which represents an annualized yield of 7.6%, despite a high dividend payout ratio of 102.33%.
• Analysts maintain a consensus target price of $22.54 for Energy Transfer, with thirteen analysts rating the stock as a "buy," reflecting positive sentiment in the market.

Integrity Alliance LLC. bought a new stake in Energy Transfer LP (NYSE:ET - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 23,815 shares of the pipeline company's stock, valued at approximately $443,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Strong Tower Advisory Services acquired a new stake in shares of Energy Transfer in the first quarter valued at approximately $2,604,000. Prevail Innovative Wealth Advisors LLC raised its position in Energy Transfer by 316.9% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company's stock valued at $2,181,000 after purchasing an additional 89,173 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Energy Transfer by 223.5% in 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 in the last quarter. Appaloosa LP increased its stake 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 worth $92,155,000 after acquiring an additional 42,500 shares during the period. Finally, Commerce Bank purchased a new position in Energy Transfer during the first quarter worth about $92,607,000. Hedge funds and other institutional investors own 38.22% of the company's stock.

Energy Transfer Price Performance

Shares of ET traded down $0.04 during mid-day trading on Friday, reaching $17.45. 7,300,533 shares of the company's stock were exchanged, compared to its average volume of 10,422,809. 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 52-week low of $14.60 and a 52-week high of $21.45. The company has a market cap of $59.90 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.99 and a beta of 0.85. The company has a 50-day simple moving average of $17.55 and a two-hundred day simple moving average of $17.65.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts' consensus estimates of $0.32. The business had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business's revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 earnings per share. On average, sell-side analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 7.6%. The ex-dividend date was Friday, August 8th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is currently 102.33%.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren acquired 1,350,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was bought at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the purchase, the director directly owned 69,178,477 shares of the company's stock, valued at approximately $1,200,938,360.72. This represents a 1.99% 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.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. TD Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Cowen initiated coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating for the company. Scotiabank initiated coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 target price on the stock. Finally, Morgan Stanley lowered their price target on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 26th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.54.

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.