Bulltick Wealth Management LLC Purchases 55,000 Shares of Energy Transfer LP (NYSE:ET)

Key Points

• Bulltick Wealth Management LLC increased its stake in Energy Transfer LP by 107.8%, owning 106,000 shares valued at approximately $1.97 million after purchasing an additional 55,000 shares in the first quarter.
• Energy Transfer recently declared a quarterly dividend of $0.33 per share, indicating a 7.7% yield, which represents a boost from the previous payout and brings the annualized dividend to $1.32.
• Analysts have a consensus rating of "Moderate Buy" for Energy Transfer, with an average price target of $22.58, noting that shares have seen recent rating increases and mixed adjustments in price targets.

Bulltick Wealth Management LLC raised its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 107.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,000 shares of the pipeline company's stock after acquiring an additional 55,000 shares during the period. Bulltick Wealth Management LLC's holdings in Energy Transfer were worth $1,971,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strong Tower Advisory Services acquired a new position in shares of Energy Transfer in the first quarter worth approximately $2,604,000. Prevail Innovative Wealth Advisors LLC lifted its stake in Energy Transfer by 316.9% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company's stock valued at $2,181,000 after buying an additional 89,173 shares during the period. Jefferies Financial Group Inc. lifted its stake in Energy Transfer by 125.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 469,227 shares of the pipeline company's stock valued at $9,192,000 after buying an additional 260,700 shares during the period. Commerce Bank acquired a new position in Energy Transfer in the first quarter valued at approximately $92,607,000. Finally, Alps Advisors Inc. lifted its stake in Energy Transfer by 12.9% in the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock valued at $1,400,831,000 after buying an additional 8,613,645 shares during the period. Institutional investors own 38.22% of the company's stock.

Analyst Ratings Changes

ET has been the topic of several recent analyst reports. TD Cowen began coverage on Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Cowen assumed coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating for the company. Mizuho upped their price target on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.75.

Insider Transactions at Energy Transfer

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

Energy Transfer Price Performance

Shares of Energy Transfer stock traded up $0.09 during trading on Wednesday, hitting $17.48. 11,993,133 shares of the stock traded hands, compared to its average volume of 14,670,106. The firm's fifty day moving average is $17.77 and its 200-day moving average is $18.06. 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 stock has a market cap of $60.00 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.91 and a beta of 0.83.

Energy Transfer (NYSE:ET - Get Free Report) last released its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts' consensus estimates of $0.32. The company had revenue of $19.24 billion during the quarter, compared to analysts' expectations of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%. The firm's revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS. Research analysts expect 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 will be paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th will be paid a dividend of $0.33 per share. The ex-dividend date is Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a yield of 7.6%. Energy Transfer's dividend payout ratio (DPR) is presently 102.33%.

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.