Free Trial

Energy Transfer LP $ET Stock Holdings Increased by Trueblood Wealth Management LLC

Energy Transfer logo with Energy background

Key Points

  • Trueblood Wealth Management LLC increased its holdings in Energy Transfer LP by 247.0%, acquiring a total of 49,209 shares valued at approximately $892,000.
  • Energy Transfer recently declared a quarterly dividend of $0.33 per share, representing a dividend yield of 7.9%, while the company has a payout ratio of 102.33%.
  • The stock has a market capitalization of $57.19 billion and is currently rated with a consensus of Moderate Buy and an average price target of $22.50.
  • Five stocks we like better than Energy Transfer.

Trueblood Wealth Management LLC increased its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 247.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,209 shares of the pipeline company's stock after purchasing an additional 35,029 shares during the quarter. Trueblood Wealth Management LLC's holdings in Energy Transfer were worth $892,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Ryan Investment Management Inc. acquired a new stake in shares of Energy Transfer during the second quarter valued at approximately $31,000. Vision Financial Markets LLC acquired a new stake in shares of Energy Transfer during the first quarter valued at approximately $33,000. Stone House Investment Management LLC acquired a new stake in shares of Energy Transfer during the first quarter valued at approximately $38,000. HWG Holdings LP acquired a new stake in shares of Energy Transfer during the first quarter valued at approximately $38,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Energy Transfer during the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 38.22% of the company's stock.

Energy Transfer Stock Performance

ET stock opened at $16.66 on Tuesday. The firm has a 50 day moving average of $17.45 and a two-hundred day moving average of $17.51. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The company has a market capitalization of $57.19 billion, a price-to-earnings ratio of 12.91, a P/E/G ratio of 0.99 and a beta of 0.78.

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

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were paid 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 dividend on an annualized basis and a dividend yield of 7.9%. Energy Transfer's dividend payout ratio is presently 102.33%.

Insider Buying and Selling at Energy Transfer

In other news, Director Kelcy L. Warren acquired 1,350,000 shares of Energy Transfer stock in a transaction dated Wednesday, August 20th. The stock was acquired at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the purchase, the director 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.28% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Energy Transfer in a report on Saturday, September 27th. Cowen started coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating on the stock. Scotiabank started coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 price objective on the stock. TD Cowen started coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating and a $22.00 price objective on the stock. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.50.

Read Our Latest Analysis on Energy Transfer

Energy Transfer Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding ET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer LP (NYSE:ET - Free Report).

Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Energy Transfer Right Now?

Before you consider Energy Transfer, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Energy Transfer wasn't on the list.

While Energy Transfer currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Reduce the Risk Cover

Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Exceptional Growth Stocks to Hold for the Long Haul
5 Stocks Congress Is Buying for the AI Boom
3 Growth Stocks Under $20 with Serious Upside

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines