Energy Transfer LP $ET Shares Bought by Oxbow Advisors LLC

Key Points

• Oxbow Advisors LLC increased its stake in Energy Transfer LP by 3.5%, acquiring an additional 16,677 shares during the second quarter, bringing their total to 491,544 shares valued at approximately $8.9 million.
• Director Kelcy L. Warren purchased 1.35 million shares at an average price of $17.36, increasing his holdings to approximately 69.18 million shares, valued at over $1.2 billion.
• Energy Transfer recently announced a quarterly dividend of $0.33, maintaining a yield of 7.9%, with a current dividend payout ratio of 102.33%.

Oxbow Advisors LLC grew its position in Energy Transfer LP (NYSE:ET - Free Report) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 491,544 shares of the pipeline company's stock after purchasing an additional 16,677 shares during the quarter. Energy Transfer makes up 1.0% of Oxbow Advisors LLC's investment portfolio, making the stock its 21st largest position. Oxbow Advisors LLC's holdings in Energy Transfer were worth $8,912,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ET. Chelsea Counsel Co. raised its stake in Energy Transfer by 370.3% in the second quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company's stock valued at $1,705,000 after buying an additional 74,050 shares in the last quarter. Prevail Innovative Wealth Advisors LLC raised its position in shares of Energy Transfer by 316.9% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company's stock worth $2,181,000 after acquiring an additional 89,173 shares in the last quarter. Highland Capital Management LLC acquired a new stake in shares of Energy Transfer during the 2nd quarter worth about $930,000. Northern Trust Corp lifted its stake in Energy Transfer by 223.5% during the first quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company's stock worth $19,883,000 after purchasing an additional 738,885 shares during the last quarter. Finally, Appaloosa LP boosted its holdings in Energy Transfer by 0.9% in the first quarter. Appaloosa LP now owns 4,957,235 shares of the pipeline company's stock valued at $92,155,000 after purchasing an additional 42,500 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Energy Transfer

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Cowen started coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating for the company. UBS Group reissued a "buy" rating and issued a $22.00 price target on shares of Energy Transfer in a research report on Wednesday. Morgan Stanley dropped their price objective on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. TD Cowen started coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 target price for the company. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Energy Transfer has a consensus rating of "Moderate Buy" and an average target price of $22.67.

Energy Transfer Trading Down 1.4%

Shares of ET stock opened at $16.67 on Friday. The business's fifty day moving average price is $17.25 and its 200 day moving average price is $17.41. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. The firm has a market capitalization of $57.22 billion, a PE ratio of 12.92, a P/E/G ratio of 1.00 and a beta of 0.78. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. During the same period in the prior year, the business posted $0.35 earnings per share. The firm's revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 7.9%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 8th. Energy Transfer's dividend payout ratio is currently 102.33%.

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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