Energy Transfer LP $ET is Summit Securities Group LLC's 9th Largest Position

Key Points

• Summit Securities Group increased its Energy Transfer stake by 232.9% in the second quarter to 539,600 shares worth approximately $10.3 million, making ET its ninth-largest holding. Institutional investors collectively own 38.22% of the company.
• Energy Transfer reported quarterly EPS of $0.59, well above the $0.38 analyst consensus, while revenue rose 78.4% year over year to $34.33 billion.
• The company declared a quarterly distribution of $0.34, equivalent to a 6.5% annualized yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $23.92, versus the recent $21.02 share price.

Summit Securities Group LLC grew its stake in Energy Transfer LP (NYSE:ET - Free Report) by 232.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 539,600 shares of the pipeline company's stock after buying an additional 377,500 shares during the period. Energy Transfer accounts for 1.0% of Summit Securities Group LLC's investment portfolio, making the stock its 9th largest holding. Summit Securities Group LLC's holdings in Energy Transfer were worth $10,317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Morgan Stanley raised its stake in Energy Transfer by 41.6% during the 4th quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company's stock worth $1,423,256,000 after acquiring an additional 25,366,594 shares in the last quarter. Alps Advisors Inc. boosted its stake in Energy Transfer by 8.0% in the fourth quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company's stock valued at $1,382,573,000 after acquiring an additional 6,192,066 shares in the last quarter. Mizuho Markets Americas LLC acquired a new position in Energy Transfer in the first quarter valued at $61,760,000. Invesco Ltd. grew its holdings in shares of Energy Transfer by 3.2% during the third quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company's stock worth $992,923,000 after purchasing an additional 1,773,042 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Energy Transfer by 5.7% during the first quarter. Bank of America Corp DE now owns 30,956,358 shares of the pipeline company's stock worth $597,458,000 after purchasing an additional 1,656,609 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of NYSE ET opened at $21.02 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94. The stock has a fifty day moving average price of $19.76 and a 200 day moving average price of $19.32. Energy Transfer LP has a 1-year low of $16.18 and a 1-year high of $21.11. The company has a market cap of $72.39 billion, a PE ratio of 14.30, a P/E/G ratio of 1.97 and a beta of 0.55.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.21. The firm 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 quarterly revenue was up 78.4% on a year-over-year basis. During the same period last year, the firm posted $0.32 EPS. Sell-side analysts forecast that Energy Transfer LP will post 1.57 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Friday, August 7th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.34. This represents a $1.36 annualized dividend and a dividend yield of 6.5%. Energy Transfer's payout ratio is presently 92.52%.

Energy Transfer News Roundup

Here are the key news stories impacting Energy Transfer this week:

• Positive Sentiment: Income appeal remains a key support. An investor analysis argues that Energy Transfer’s distribution yield, now near 6.5%, remains attractive and that the payout appears dependable, reinforcing ET’s appeal as a high-income midstream investment. Energy Transfer’s Yield Just Climbed Near 6.5%. Here’s Why I’m Not Worried About the Payout.
• Positive Sentiment: AI-related power demand could create growth opportunities. Alpha Wealth Funds highlighted ET’s positioning to benefit from the expected surge in electricity consumption from artificial-intelligence infrastructure, potentially increasing demand for natural gas and related energy services. Energy Transfer Positions to Capitalize on the AI Power Surge
• Positive Sentiment: Analyst and insider signals are favorable. Truist Financial forecast strong potential price appreciation, while separate coverage said ET shares benefited from insider buying activity. These signals may strengthen investor confidence, although they do not guarantee future performance. Truist Financial Forecasts Strong Price Appreciation for Energy Transfer Stock Energy Transfer Stock Price Up on Insider Buying Activity
• Neutral Sentiment: Natural-gas prices moved higher. Warmer-weather forecasts helped lift natural-gas prices, which could improve industry sentiment. However, ET’s diversified, largely fee-based midstream model may limit the direct effect of commodity-price changes. Nat-Gas Prices Close Higher on Warm Forecasts
• Negative Sentiment: Zacks downgraded ET from “strong buy” to “hold.” The rating change is a modest headwind and may encourage some investors to take profits after the stock’s recent momentum. Zacks.com

Insider Buying and Selling at Energy Transfer

In other news, Director James Richard Perry purchased 12,359 shares of the company's stock in a transaction dated Friday, August 7th. The shares were acquired at an average cost of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the purchase, the director directly owned 208,046 shares in the company, valued at $4,208,770.58. The trade was a 6.32% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.28% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Scotiabank reissued an "outperform" rating on shares of Energy Transfer in a report on Tuesday, May 12th. Royal Bank Of Canada restated an "outperform" rating and set a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, July 21st. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Tuesday, May 12th. TD Cowen reiterated a "buy" rating and issued a $25.00 price objective (up from $24.00) on shares of Energy Transfer in a research note on Monday. Finally, Barclays reissued an "overweight" rating and issued a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a report on Wednesday, August 5th. 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's stock. According to data from MarketBeat.com, Energy Transfer has a consensus rating of "Moderate Buy" and an average target price of $23.92.

Energy Transfer Profile

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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