Energy Transfer LP $ET is Fourpath Capital Management LLC's 7th Largest Position

Key Points

• Fourpath Capital Management LLC increased its stake in Energy Transfer LP by 6.4%, making it the firm's 7th largest position, totaling 867,889 shares valued at approximately $15.7 million.
• Analysts have a consensus rating of “Moderate Buy” on Energy Transfer shares, with a price target of $22.50, as multiple institutions initiated coverage and provided positive ratings.
• Director Kelcy L. Warren acquired 1.35 million shares of Energy Transfer stock, increasing his ownership by nearly 2% and further indicating insider confidence in the company.

Fourpath Capital Management LLC grew its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 6.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 867,889 shares of the pipeline company's stock after purchasing an additional 51,935 shares during the quarter. Energy Transfer makes up about 2.5% of Fourpath Capital Management LLC's holdings, making the stock its 7th largest position. Fourpath Capital Management LLC's holdings in Energy Transfer were worth $15,735,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Ryan Investment Management Inc. acquired a new stake in shares of Energy Transfer in the 2nd quarter valued at about $31,000. Vision Financial Markets LLC purchased a new stake in Energy Transfer in the first quarter valued at approximately $33,000. HWG Holdings LP purchased a new stake in Energy Transfer in the first quarter valued at approximately $38,000. Stone House Investment Management LLC acquired a new stake in shares of Energy Transfer in the first quarter valued at approximately $38,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Energy Transfer during the first quarter worth approximately $40,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on ET shares. Cowen initiated coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating for the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Energy Transfer in a research note on Wednesday. Morgan Stanley dropped their price target on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 26th. Scotiabank initiated coverage on Energy Transfer in a research note on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 price objective for the company. Finally, TD Cowen began coverage on Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 target price on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Energy Transfer currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.

Insider Buying and Selling at Energy Transfer

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

Energy Transfer Price Performance

ET stock opened at $16.62 on Friday. 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 LP has a 1 year low of $14.60 and a 1 year high of $21.45. The stock's 50 day moving average price is $17.37 and its 200 day moving average price is $17.49. The firm has a market cap of $57.05 billion, a P/E ratio of 12.88, a PEG ratio of 0.98 and a beta of 0.78.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $24.07 billion. During the same quarter in the previous year, the company posted $0.35 EPS. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. On average, sell-side analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were issued a $0.33 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, August 8th. This represents a $1.32 annualized dividend and a yield of 7.9%. Energy Transfer's payout ratio 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.

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