AM Investment Strategies LLC Has $429,000 Stock Position in Energy Transfer LP $ET

Key Points

• AM Investment Strategies LLC significantly increased its position in Energy Transfer LP by 5,825.8% in Q2, owning 23,703 shares valued at $429,000.
• Energy Transfer reported $0.32 earnings per share for the last quarter, meeting analysts' expectations, despite a 7.2% decrease in revenue year-over-year.
• The company has declared a quarterly dividend of $0.33, representing a 7.7% yield, with the payout ratio currently at 102.33%.

AM Investment Strategies LLC increased its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 5,825.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,703 shares of the pipeline company's stock after purchasing an additional 23,303 shares during the quarter. AM Investment Strategies LLC's holdings in Energy Transfer were worth $429,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. MCF Advisors LLC boosted its stake in shares of Energy Transfer by 7.2% in the 2nd quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company's stock valued at $167,000 after purchasing an additional 616 shares during the last quarter. Tepp RIA LLC boosted its stake in Energy Transfer by 36.6% in the second quarter. Tepp RIA LLC now owns 20,054 shares of the pipeline company's stock valued at $364,000 after acquiring an additional 5,375 shares during the last quarter. Boyd Wealth Management LLC boosted its stake in Energy Transfer by 48.2% in the second quarter. Boyd Wealth Management LLC now owns 17,894 shares of the pipeline company's stock valued at $324,000 after acquiring an additional 5,818 shares during the last quarter. Buska Wealth Management LLC bought a new position in Energy Transfer in the second quarter valued at approximately $225,000. Finally, Armstrong Advisory Group Inc. boosted its stake in Energy Transfer by 140.5% in the second quarter. Armstrong Advisory Group Inc. now owns 4,521 shares of the pipeline company's stock valued at $82,000 after acquiring an additional 2,641 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Energy Transfer Stock Down 0.1%

Energy Transfer stock opened at $17.12 on Wednesday. The company's 50 day simple moving average is $17.52 and its 200 day simple moving average is $17.60. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The firm has a market capitalization of $58.75 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.01 and a beta of 0.85. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92.

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

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were paid a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is an increase 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 payout ratio is presently 102.33%.

Insiders Place Their Bets

In related news, Director Kelcy L. Warren purchased 1,350,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were purchased at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the purchase, the director owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This represents a 1.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.28% of the company's stock.

Analyst Upgrades and Downgrades

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

Energy Transfer 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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