Blair William & Co. IL Acquires 56,660 Shares of Energy Transfer LP (NYSE:ET)

Blair William & Co. IL raised its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 11.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 571,952 shares of the pipeline company's stock after buying an additional 56,660 shares during the period. Blair William & Co. IL's holdings in Energy Transfer were worth $10,633,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Greenland Capital Management LP bought a new stake in Energy Transfer in the fourth quarter valued at approximately $2,253,000. Bank of Montreal Can increased its stake in shares of Energy Transfer by 12,090.8% during the fourth quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock worth $244,005,000 after purchasing an additional 12,353,441 shares during the period. Strong Tower Advisory Services bought a new position in shares of Energy Transfer during the first quarter worth approximately $2,604,000. Rockefeller Capital Management L.P. increased its stake in shares of Energy Transfer by 5.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,702,380 shares of the pipeline company's stock worth $72,530,000 after purchasing an additional 204,779 shares during the period. Finally, Prevail Innovative Wealth Advisors LLC increased its stake 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 worth $2,181,000 after purchasing an additional 89,173 shares during the period. Institutional investors own 38.22% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Cowen initiated coverage on Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating on the stock. TD Cowen initiated coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Finally, Mizuho raised their target price on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.58.

Insider Buying and Selling

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $18.48, for a total transaction of $25,299.12. Following the transaction, the director directly owned 24,523 shares of the company's stock, valued at approximately $453,185.04. The trade was a 5.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.28% of the company's stock.

Energy Transfer Trading Down 0.1%

NYSE ET opened at $17.78 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.41. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The company has a market cap of $61.02 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 0.92 and a beta of 0.83. The business's fifty day moving average is $17.79 and its 200 day moving average is $18.18.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The company had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter last year, the business posted $0.32 EPS. Energy Transfer's revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Friday, August 8th will be issued a dividend of $0.33 per share. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.32 annualized dividend and a dividend yield of 7.4%. Energy Transfer's dividend payout ratio (DPR) is 100.00%.

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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