Energy Transfer LP $ET Shares Acquired by Ariston Services Group

Key Points

• Ariston Services Group has increased its stake in Energy Transfer LP by 126.7% in Q2, owning over 100,000 shares worth approximately $1.83 million.
• Energy Transfer's Director, Kelcy L. Warren, purchased 1.35 million shares for about $23.4 million, raising his ownership stake to over 69 million shares.
• Energy Transfer recently paid a quarterly dividend of $0.33 per share, representing an annual yield of 8.0% despite having a payout ratio exceeding 100%.

Ariston Services Group increased its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 126.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 100,683 shares of the pipeline company's stock after purchasing an additional 56,274 shares during the quarter. Energy Transfer accounts for about 1.3% of Ariston Services Group's holdings, making the stock its 14th largest holding. Ariston Services Group's holdings in Energy Transfer were worth $1,825,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ryan Investment Management Inc. acquired a new position in shares of Energy Transfer during the 2nd quarter worth approximately $31,000. Vision Financial Markets LLC acquired a new position in shares of Energy Transfer during the 1st quarter worth about $33,000. HWG Holdings LP purchased a new position in Energy Transfer in the 1st quarter valued at about $38,000. Stone House Investment Management LLC acquired a new stake in Energy Transfer in the 1st quarter worth about $38,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in Energy Transfer during the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 38.22% of the company's stock.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren acquired 1,350,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the transaction, the director 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 filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.28% of the company's stock.

Wall Street Analyst Weigh In

ET has been the topic of several research reports. TD Cowen assumed coverage on Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating and a $22.00 target price on the stock. Barclays restated an "overweight" rating and issued a $25.00 price objective on shares of Energy Transfer in a report on Wednesday. UBS Group reaffirmed a "buy" rating and set a $22.00 target price on shares of Energy Transfer in a research note on Wednesday. Weiss Ratings reiterated a "buy (b)" rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Finally, Cowen assumed coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating on the stock. Thirteen 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.67.

Energy Transfer Stock Down 1.4%

NYSE ET opened at $16.44 on Friday. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The business's fifty day simple moving average is $17.23 and its 200-day simple moving average is $17.39. The firm has a market cap of $56.43 billion, a PE ratio of 12.74, a P/E/G ratio of 0.98 and a beta of 0.78.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 analyst estimates of $24.07 billion. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Energy Transfer's quarterly revenue was down 7.2% on a year-over-year basis. As a group, equities analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were given a $0.33 dividend. The ex-dividend date was Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a yield of 8.0%. Energy Transfer's dividend payout ratio (DPR) is currently 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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