50,942 Shares of Energy Transfer LP $ET Purchased by Ulrich Consultants & Investment Group LLC

Key Points

• Ulrich Consultants & Investment Group purchased 50,942 Energy Transfer shares valued at approximately $1.0 million, while institutional investors collectively own 38.22% of the company.
• Analysts maintain a positive outlook, with Energy Transfer receiving a consensus “Moderate Buy” rating and an average price target of $24.60, above its reported $20.48 share price.
• Energy Transfer reported stronger-than-expected quarterly results, including $0.59 in earnings per share and 78.4% year-over-year revenue growth, and raised its quarterly dividend to $0.34, representing a 6.6% annualized yield.

Ulrich Consultants & Investment Group LLC purchased a new position in Energy Transfer LP (NYSEAMERICAN:ET - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 50,942 shares of the pipeline company's stock, valued at approximately $1,007,000. Energy Transfer accounts for approximately 1.0% of Ulrich Consultants & Investment Group LLC's investment portfolio, making the stock its 14th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of ET. Bank of America Corp DE increased its position in shares of Energy Transfer by 5.7% in the 1st quarter. Bank of America Corp DE now owns 30,956,358 shares of the pipeline company's stock valued at $597,458,000 after acquiring an additional 1,656,609 shares during the period. Energy Income Partners LLC boosted its position in Energy Transfer by 1.8% during the second quarter. Energy Income Partners LLC now owns 25,654,536 shares of the pipeline company's stock worth $490,515,000 after purchasing an additional 447,081 shares in the last quarter. Recurrent Investment Advisors LLC increased its position in shares of Energy Transfer by 3.9% in the first quarter. Recurrent Investment Advisors LLC now owns 5,562,381 shares of the pipeline company's stock valued at $107,354,000 after buying an additional 211,026 shares in the last quarter. BlackRock Inc. grew its stake in Energy Transfer by 0.4% in the 2nd quarter. BlackRock Inc. now owns 4,017,925 shares of the pipeline company's stock valued at $76,823,000 after acquiring an additional 16,926 shares during the period. Finally, Rockefeller Capital Management L.P. raised its position in Energy Transfer by 14.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,544,553 shares of the pipeline company's stock worth $74,940,000 after acquiring an additional 578,137 shares during the period. Hedge funds and other institutional investors own 38.22% of the company's stock.

Insider Activity at Energy Transfer

In related news, Director James Perry bought 12,359 shares of the firm's stock in a transaction on Friday, August 7th. The shares were bought at an average cost of $20.23 per share, for a total transaction of $250,022.57. Following the transaction, the director owned 208,046 shares of the company's stock, valued at approximately $4,208,770.58. This trade represents a 6.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kelcy Warren bought 647,968 shares of the stock in a transaction on Wednesday, August 19th. The shares were bought at an average price of $21.26 per share, for a total transaction of $13,775,799.68. Following the completion of the transaction, the director directly owned 147,901,879 shares of the company's stock, valued at $3,144,393,947.54. This trade represents a 0.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 1,012,359 shares of company stock valued at $21,513,543 over the last three months. Insiders own 3.28% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ET shares. Melius Research initiated coverage on shares of Energy Transfer in a research note on Tuesday, September 22nd. They issued a "hold" rating and a $25.00 price target on the stock. Morgan Stanley lifted their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 18th. Stifel Nicolaus started coverage on Energy Transfer in a research report on Thursday, September 10th. They issued a "buy" rating and a $25.00 target price on the stock. Wall Street Zen upgraded Energy Transfer from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Truist Financial lifted their target price on Energy Transfer from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Energy Transfer presently has a consensus rating of "Moderate Buy" and an average target price of $24.60.

Energy Transfer Stock Up 0.3%

Energy Transfer stock opened at $20.48 on Wednesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $21.84. The stock has a 50-day simple moving average of $20.91 and a 200-day simple moving average of $20.02. The company has a market capitalization of $70.52 billion, a P/E ratio of 13.93 and a beta of 0.60.

Energy Transfer (NYSEAMERICAN:ET - Get Free Report) last announced its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The business had revenue of $34.33 billion during the quarter, compared to the consensus estimate of $27.71 billion. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The business's quarterly revenue was up 78.4% compared to the same quarter last year. Equities research analysts expect that Energy Transfer LP will post 1.73 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.36 dividend on an annualized basis and a yield of 6.6%. This is a boost from Energy Transfer's previous quarterly dividend of $0.3375. Energy Transfer's dividend payout ratio is presently 92.52%.

About Energy Transfer

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.

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