Farther Finance Advisors LLC Buys 31,094 Shares of Energy Transfer LP $ET

Key Points

• Farther Finance Advisors LLC increased its ownership in Energy Transfer LP by 68.3% in Q2, acquiring an additional 31,094 shares, bringing its total holdings to valued at $1.39 million.
• Energy Transfer announced a quarterly dividend increase to $0.33 per share, representing a 7.7% yield, although its dividend payout ratio is currently at 102.33%.
• Thirteen analysts rate Energy Transfer as a "Buy," with a consensus target price of $22.50 per share, while recent earnings reports showed revenue of $19.24 billion, lower than expectations.

Farther Finance Advisors LLC lifted its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 68.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,601 shares of the pipeline company's stock after buying an additional 31,094 shares during the quarter. Farther Finance Advisors LLC's holdings in Energy Transfer were worth $1,389,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ET. Brighton Jones LLC lifted its holdings in shares of Energy Transfer by 93.4% during the fourth 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. Toronto Dominion Bank acquired a new stake in shares of Energy Transfer during the fourth quarter worth $48,426,000. United Advisor Group LLC lifted its holdings in shares of Energy Transfer by 3.0% during the fourth quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company's stock worth $363,000 after buying an additional 534 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Energy Transfer during the fourth quarter worth $54,000. Finally, Armis Advisers LLC acquired a new stake in shares of Energy Transfer during the fourth quarter worth $267,000. Institutional investors and hedge funds own 38.22% of the company's stock.

Wall Street Analysts Forecast Growth

ET has been the subject of a number of research reports. Morgan Stanley dropped their target price on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Tuesday, August 26th. Cowen began coverage on Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating on the stock. TD Cowen began coverage on Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating and a $22.00 price target on the stock. Wells Fargo & Company restated an "overweight" rating and issued a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Finally, Scotiabank began coverage on Energy Transfer in a research report on Tuesday, September 2nd. They issued a "sector outperform" rating and a $23.00 price target on the stock. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Energy Transfer presently has an average rating of "Moderate Buy" and an average target price of $22.50.

Energy Transfer Stock Performance

Energy Transfer stock opened at $17.12 on Wednesday. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The business's 50-day moving average price is $17.52 and its two-hundred day moving average price is $17.60. The stock has a market cap of $58.75 billion, a PE ratio of 13.27, a P/E/G ratio of 1.01 and a beta of 0.85.

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

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were given a $0.33 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date was Friday, August 8th. Energy Transfer's dividend payout ratio (DPR) is presently 102.33%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were purchased at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the transaction, the director directly owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. The trade was a 1.99% 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.

Energy Transfer Company 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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