Beacon Pointe Advisors LLC Has $39.50 Million Position in Energy Transfer LP $ET

Beacon Pointe Advisors LLC raised its position in Energy Transfer LP (NYSE:ET - Free Report) by 7.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,065,797 shares of the pipeline company's stock after purchasing an additional 142,821 shares during the period. Beacon Pointe Advisors LLC owned approximately 0.06% of Energy Transfer worth $39,498,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Asset Allocation Strategies LLC grew its holdings in shares of Energy Transfer by 1.7% in the 2nd quarter. Asset Allocation Strategies LLC now owns 45,234 shares of the pipeline company's stock valued at $865,000 after buying an additional 738 shares during the period. Centaurus Financial Inc. raised its stake in Energy Transfer by 173.7% during the 2nd quarter. Centaurus Financial Inc. now owns 40,727 shares of the pipeline company's stock worth $779,000 after buying an additional 25,847 shares during the period. Proficio Capital Partners LLC bought a new position in Energy Transfer during the second quarter worth about $203,000. Corient Private Wealth LP lifted its holdings in Energy Transfer by 7.8% during the second quarter. Corient Private Wealth LP now owns 1,868,875 shares of the pipeline company's stock worth $35,733,000 after acquiring an additional 135,275 shares in the last quarter. Finally, Western Wealth Management LLC grew its stake in Energy Transfer by 1.1% in the second quarter. Western Wealth Management LLC now owns 87,271 shares of the pipeline company's stock valued at $1,669,000 after acquiring an additional 943 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Trading Down 0.4%

Shares of Energy Transfer stock opened at $21.30 on Friday. The firm has a 50-day moving average of $20.22 and a 200-day moving average of $19.52. The stock has a market cap of $73.34 billion, a PE ratio of 14.49, a PEG ratio of 0.75 and a beta of 0.55. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $21.64. 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 (NYSE:ET - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.21. The business had revenue of $34.33 billion for the quarter, compared to analyst estimates of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. Energy Transfer's revenue for the quarter was up 78.4% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.66 EPS for the current year.

Energy Transfer Increases Dividend

The business 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 annualized dividend and a yield of 6.4%. This is a boost from Energy Transfer's previous quarterly dividend of $0.34. Energy Transfer's payout ratio is presently 92.52%.

Insiders Place Their Bets

In related news, Director James Richard Perry bought 12,359 shares of the business's stock in a transaction dated Friday, August 7th. The stock was purchased 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 in the company, valued at $4,208,770.58. The trade was a 6.32% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kelcy L. Warren bought 647,968 shares of Energy Transfer stock in a transaction dated Wednesday, August 19th. The shares were bought at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the completion of the acquisition, the director owned 147,901,879 shares in the company, valued at $3,144,393,947.54. This represents a 0.44% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 1,012,359 shares of company stock valued at $21,513,543. Corporate insiders own 3.28% of the company's stock.

Analyst Upgrades and Downgrades

ET has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on Energy Transfer from $23.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 18th. Jefferies Financial Group reissued a "buy" rating on shares of Energy Transfer in a research note on Wednesday, August 5th. Stifel Nicolaus raised their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Scotiabank reaffirmed an "outperform" rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Finally, TD Cowen reiterated a "buy" rating and issued a $25.00 price target (up from $24.00) on shares of Energy Transfer in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.08.

About Energy Transfer

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.

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