Energy Transfer LP (NYSE:ET) Shares Purchased by Texas Yale Capital Corp.

Key Points

• Texas Yale Capital Corp. increased its holdings in Energy Transfer LP by 8.7% during the first quarter, owning 1,297,796 shares valued at $24.1 million, which makes up about 1.0% of its portfolio.
• Several institutional investors significantly boosted their stakes in Energy Transfer, with Bank of Montreal Can increasing its position by a remarkable 12,090.8% in the fourth quarter, now owning over 12.4 million shares.
• Energy Transfer recently announced a quarterly dividend of $0.33 per share, maintaining a yield of 7.45%, despite a payout ratio of 100%.

Texas Yale Capital Corp. raised its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,297,796 shares of the pipeline company's stock after acquiring an additional 103,925 shares during the quarter. Energy Transfer makes up about 1.0% of Texas Yale Capital Corp.'s portfolio, making the stock its 9th largest holding. Texas Yale Capital Corp.'s holdings in Energy Transfer were worth $24,126,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ET. Bank of Montreal Can increased its position in Energy Transfer by 12,090.8% in the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock valued at $244,005,000 after acquiring an additional 12,353,441 shares during the period. Alps Advisors Inc. increased its position in Energy Transfer by 12.9% in the 1st quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock valued at $1,400,831,000 after acquiring an additional 8,613,645 shares during the period. FMR LLC increased its position in Energy Transfer by 15.7% in the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock valued at $756,840,000 after acquiring an additional 5,254,721 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in Energy Transfer in the 4th quarter valued at approximately $79,113,000. Finally, Hsbc Holdings PLC acquired a new position in Energy Transfer in the 4th quarter valued at approximately $50,166,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ET has been the subject of several recent research reports. Wells Fargo & Company decreased their price target on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. TD Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Mizuho upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. Finally, Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Energy Transfer has a consensus rating of "Moderate Buy" and an average price target of $22.58.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the transaction, the director directly owned 24,523 shares of the company's stock, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.28% of the stock is currently owned by insiders.

Energy Transfer Stock Performance

Shares of ET stock opened at $17.73 on Friday. The firm has a 50-day moving average of $17.79 and a 200-day moving average of $18.28. The company has a market cap of $60.83 billion, a P/E ratio of 13.43, a P/E/G ratio of 0.92 and a beta of 0.79. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The business had revenue of $21.02 billion during the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 earnings per share. Equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th will be given a dividend of $0.33 per share. The ex-dividend date is 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 7.45%. Energy Transfer's payout ratio is presently 100.00%.

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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