CVA Family Office LLC Buys New Position in Energy Transfer LP $ET

Key Points

• CVA Family Office LLC has acquired a new stake in Energy Transfer LP, purchasing 100,000 shares valued at approximately $1.81 million during the second quarter.
• Equities analysts have largely given Energy Transfer a buy rating, with a consensus target price of $22.67, indicating optimism for future growth.
• Energy Transfer's Director, Kelcy L. Warren, significantly increased his stake by buying 1.35 million shares for about $23.44 million in August.

CVA Family Office LLC bought a new stake in shares of Energy Transfer LP (NYSE:ET - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 100,000 shares of the pipeline company's stock, valued at approximately $1,813,000.

A number of other large investors also recently modified their holdings of ET. Brighton Jones LLC increased its position in shares of Energy Transfer by 93.4% during the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock valued at $481,000 after acquiring an additional 11,844 shares during the last quarter. Spire Wealth Management increased its position in Energy Transfer by 2.2% in the first quarter. Spire Wealth Management now owns 105,239 shares of the pipeline company's stock worth $1,956,000 after buying an additional 2,281 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Energy Transfer by 101.8% in the first quarter. Golden State Wealth Management LLC now owns 4,181 shares of the pipeline company's stock valued at $78,000 after purchasing an additional 2,109 shares in the last quarter. Pure Financial Advisors LLC purchased a new position in shares of Energy Transfer in the first quarter valued at $455,000. Finally, Sequoia Financial Advisors LLC grew its position in shares of Energy Transfer by 3.2% in the first quarter. Sequoia Financial Advisors LLC now owns 49,852 shares of the pipeline company's stock valued at $927,000 after purchasing an additional 1,558 shares in the last quarter. Institutional investors own 38.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ET shares. UBS Group reiterated a "buy" rating and issued a $22.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. Weiss Ratings reiterated a "buy (b)" rating on shares of Energy Transfer in a research report on Friday. TD Cowen started coverage on Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating and a $22.00 price target for the company. Morgan Stanley decreased their target price on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating for the company in a research report on Tuesday, August 26th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Thirteen research 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.67.

Insider Buying and Selling

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was acquired at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the transaction, the director directly owned 69,178,477 shares of the company's stock, valued at approximately $1,200,938,360.72. This represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.28% of the company's stock.

Energy Transfer Stock Performance

Shares of ET stock traded down $0.12 on Friday, reaching $16.74. The stock had a trading volume of 10,552,545 shares, compared to its average volume of 14,954,341. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The company has a 50 day simple moving average of $17.18 and a 200 day simple moving average of $17.39. The stock has a market cap of $57.45 billion, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts' consensus estimates of $0.32. The business had revenue of $19.24 billion for 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 business's quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. Equities research analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

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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