Energy Transfer LP $ET Shares Purchased by Quent Capital LLC

Key Points

• Quent Capital LLC dramatically increased its Energy Transfer stake by 3,581.1% in the second quarter, ending with 137,122 shares valued at approximately $2.62 million. Institutional investors collectively own 38.22% of the company.
• Energy Transfer reported quarterly earnings of $0.59 per share, exceeding estimates of $0.38, while revenue rose 78.4% year over year to $34.33 billion.
• Analysts maintain a largely positive outlook, with a consensus “Moderate Buy” rating and an average price target of $23.92. The company also pays a quarterly dividend of $0.34 per share, implying a 6.5% annualized yield.

Quent Capital LLC boosted its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 3,581.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,122 shares of the pipeline company's stock after acquiring an additional 133,397 shares during the quarter. Quent Capital LLC's holdings in Energy Transfer were worth $2,622,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Texas Yale Capital Corp. raised its position in shares of Energy Transfer by 6.1% during the 4th quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company's stock worth $21,634,000 after buying an additional 75,700 shares in the last quarter. Summit Securities Group LLC lifted its stake in shares of Energy Transfer by 179.0% in the 1st quarter. Summit Securities Group LLC now owns 162,100 shares of the pipeline company's stock worth $3,129,000 after acquiring an additional 104,000 shares during the period. North Star Investment Management Corp. boosted its holdings in shares of Energy Transfer by 100.1% in the fourth quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company's stock valued at $2,664,000 after acquiring an additional 80,786 shares in the last quarter. Mizuho Markets Americas LLC bought a new position in shares of Energy Transfer in the first quarter valued at approximately $61,760,000. Finally, Sanctuary Advisors LLC increased its stake in shares of Energy Transfer by 15.8% during the first quarter. Sanctuary Advisors LLC now owns 1,888,661 shares of the pipeline company's stock valued at $36,451,000 after acquiring an additional 257,954 shares during the period. Institutional investors own 38.22% of the company's stock.

Insider Buying and Selling at Energy Transfer

In related news, Director James Richard Perry bought 12,359 shares of the firm's stock in a transaction that occurred on 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 acquisition, the director directly owned 208,046 shares of the company's stock, valued at $4,208,770.58. The trade was a 6.32% increase in their position. The transaction was disclosed in a document filed 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 brokerages recently commented on ET. Citigroup reissued a "buy" rating and set a $24.00 target price (up from $23.00) on shares of Energy Transfer in a report on Friday, August 7th. TD Cowen reiterated a "buy" rating and set a $25.00 price target (up from $24.00) on shares of Energy Transfer in a research report on Monday, August 10th. Barclays reissued an "overweight" rating and issued a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research note on Wednesday, August 5th. Jefferies Financial Group restated a "buy" rating on shares of Energy Transfer in a report on Wednesday, August 5th. Finally, UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $23.92.

Energy Transfer Stock Down 0.5%

NYSE ET opened at $20.95 on Tuesday. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $21.11. The company has a market capitalization of $72.14 billion, a P/E ratio of 14.25, a PEG ratio of 0.75 and a beta of 0.55. The company's 50 day simple moving average is $19.80 and its 200 day simple moving average is $19.35. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.21. The firm had revenue of $34.33 billion during the quarter, compared to analysts' expectations of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The firm's revenue for the quarter was up 78.4% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. Equities research analysts expect that Energy Transfer LP will post 1.63 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

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

About Energy Transfer

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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