Energy Transfer LP $ET Shares Purchased by NewEdge Advisors LLC

Key Points

• NewEdge Advisors increased its Energy Transfer stake by 7.9% in the second quarter, acquiring 68,207 shares for a total holding of 928,614 shares valued at approximately $17.8 million. Institutional investors collectively own 38.22% of the company.
• Analyst sentiment remains favorable, with a consensus “Buy” rating and an average price target of $24.17. Recent analysts raised targets to $25, while Stifel Nicolaus initiated coverage with a Buy rating.
• Energy Transfer reported quarterly EPS of $0.59 versus a $0.38 estimate and revenue growth of 78.4% year over year. The company also offers a $0.34 quarterly distribution, equivalent to a 6.3% annualized yield, while insiders purchased more than 1 million shares over the past 90 days.

NewEdge Advisors LLC lifted its stake in Energy Transfer LP (NYSE:ET - Free Report) by 7.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 928,614 shares of the pipeline company's stock after acquiring an additional 68,207 shares during the period. NewEdge Advisors LLC's holdings in Energy Transfer were worth $17,755,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC raised its stake in shares of Energy Transfer by 93.4% in the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock worth $481,000 after buying an additional 11,844 shares in the last quarter. AQR Capital Management LLC boosted its stake in Energy Transfer by 62.8% during the first quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company's stock valued at $391,000 after buying an additional 8,118 shares in the last quarter. Geode Capital Management LLC grew its holdings in Energy Transfer by 6.2% during the second quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company's stock worth $2,455,000 after acquiring an additional 7,901 shares during the period. Russell Investments Group Ltd. grew its holdings in Energy Transfer by 436.5% during the second quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company's stock worth $76,000 after acquiring an additional 3,400 shares during the period. Finally, Guggenheim Capital LLC raised its position in Energy Transfer by 5.6% in the second quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company's stock worth $923,000 after acquiring an additional 2,700 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Key Energy Transfer News

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

• Positive Sentiment: Stifel Nicolaus initiated coverage with a Buy rating and a $25 price target, implying approximately 15% upside from the recently reported trading level. The new bullish coverage may support investor confidence. Benzinga coverage
• Positive Sentiment: Rising energy prices have helped lift sentiment toward Energy Transfer, while expectations for expanding natural-gas-liquids exports and new gas-fired power demand reinforce the company’s growth outlook. What's next for the soaring Energy Transfer stock?
• Positive Sentiment: Analysts continue to highlight Energy Transfer’s multiyear project backlog, projected double-digit EBITDA growth and secure distribution yield. The company’s payout is reportedly covered roughly twice by cash flow, strengthening its appeal as an income investment, although higher capital spending could limit distribution growth to the lower end of management’s 3%–5% range. Energy Transfer growth outlook Energy Transfer payout coverage
• Neutral Sentiment: Energy Transfer will move its common-unit listing from the New York Stock Exchange to the Texas Stock Exchange, with trading expected to begin October 5 under the existing ET ticker. The move may increase visibility and align the partnership with its Texas roots, but it does not immediately change the company’s operations or cash flows. Energy Transfer Texas Stock Exchange listing
• Neutral Sentiment: Brokerage sentiment remains favorable overall, with Energy Transfer receiving an average “Moderate Buy” recommendation. Energy Transfer analyst recommendations

Analyst Ratings Changes

A number of equities research analysts have weighed in on ET shares. Citigroup reissued a "buy" rating and issued a $24.00 price target (up from $23.00) on shares of Energy Transfer in a report on Friday, August 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, July 21st. Zacks Research lowered shares of Energy Transfer from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. increased their target price on shares of Energy Transfer from $24.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, September 4th. Finally, Truist Financial raised their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $24.17.

Energy Transfer Trading Up 0.3%

NYSE:ET opened at $21.73 on Friday. The stock has a fifty day simple moving average of $20.66 and a 200 day simple moving average of $19.72. The firm has a market capitalization of $74.84 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 0.73 and a beta of 0.57. Energy Transfer LP has a 1-year low of $16.18 and a 1-year high of $21.84. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45.

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 (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.21. The firm had revenue of $34.33 billion for the quarter, compared to the consensus estimate of $27.71 billion. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The business's revenue for the quarter was up 78.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 EPS. Sell-side analysts forecast that Energy Transfer LP will post 1.71 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were given a $0.34 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.34. The ex-dividend date was Friday, August 7th. This represents a $1.36 annualized dividend and a dividend yield of 6.3%. Energy Transfer's payout ratio is currently 92.52%.

Insider Buying and Selling

In other news, Director Kelcy Warren acquired 647,968 shares of the stock in a transaction on Wednesday, August 19th. The shares were purchased at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the transaction, the director owned 147,901,879 shares in the company, valued at approximately $3,144,393,947.54. This trade represents a 0.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Perry acquired 12,359 shares of the stock in a transaction on Friday, August 7th. The shares were purchased at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the transaction, the director owned 208,046 shares in the company, valued at approximately $4,208,770.58. This represents a 6.32% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 1,012,359 shares of company stock valued at $21,513,543 in the last ninety days. Company insiders own 3.28% of the company's stock.

Energy Transfer Profile

Energy Transfer LP NYSE: ET is a diversified midstream energy partnership that owns and operates infrastructure used to transport, store, process and market energy commodities. Its assets support the movement of natural gas, crude oil, natural gas liquids (NGLs), refined products and other hydrocarbon-based materials.

The company's operations include natural gas gathering and processing, interstate and intrastate pipeline transportation, NGL fractionation and storage, crude oil and refined products transportation, and terminal services.

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