Fort Washington Investment Advisors Inc. OH Boosts Holdings in Energy Transfer LP $ET

Key Points

• Fort Washington Investment Advisors Inc. OH increased its stake in Energy Transfer LP by 25.5%, owning 417,575 shares valued at $7.57 million following an additional purchase of 84,957 shares.
• Analysts have given Energy Transfer a consensus target price of $22.50, with several firms rating the stock as a "buy" or "overweight", indicating potential for growth.
• Insider transactions included Director Kelcy L. Warren purchasing 1.35 million shares for approximately $23.4 million, increasing his ownership in the company significantly.

Fort Washington Investment Advisors Inc. OH grew its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 25.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 417,575 shares of the pipeline company's stock after purchasing an additional 84,957 shares during the period. Fort Washington Investment Advisors Inc. OH's holdings in Energy Transfer were worth $7,571,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ET. Indiana Trust & Investment Management Co raised its position in shares of Energy Transfer by 5.1% in the 1st quarter. Indiana Trust & Investment Management Co now owns 11,796 shares of the pipeline company's stock worth $219,000 after acquiring an additional 576 shares in the last quarter. Beam Wealth Advisors Inc. grew its stake in Energy Transfer by 1.5% in the first quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company's stock worth $742,000 after purchasing an additional 585 shares during the period. Morton Capital Management LLC CA raised its holdings in Energy Transfer by 1.3% in the first quarter. Morton Capital Management LLC CA now owns 46,382 shares of the pipeline company's stock worth $862,000 after purchasing an additional 593 shares in the last quarter. MCF Advisors LLC lifted its position in Energy Transfer by 7.2% during the second quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company's stock valued at $167,000 after buying an additional 616 shares during the period. Finally, Veracity Capital LLC boosted its holdings in shares of Energy Transfer by 1.8% during the 2nd quarter. Veracity Capital LLC now owns 36,102 shares of the pipeline company's stock valued at $655,000 after buying an additional 646 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Energy Transfer

In related news, Director Kelcy L. Warren bought 1,350,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the purchase, the director owned 69,178,477 shares of the company's stock, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.28% of the company's stock.

Energy Transfer Price Performance

Shares of NYSE ET opened at $17.46 on Monday. The firm has a market cap of $59.93 billion, a P/E ratio of 13.53, a PEG ratio of 1.03 and a beta of 0.85. Energy Transfer LP has a twelve month low of $14.60 and a twelve 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 company has a 50 day moving average of $17.52 and a 200 day moving average of $17.59.

Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts' consensus estimates of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business had revenue of $19.24 billion during the quarter, compared to analyst estimates of $24.07 billion. During the same quarter last year, the company earned $0.35 EPS. The company's quarterly revenue was down 7.2% compared to the same quarter last year. As a group, research analysts expect that Energy Transfer LP will post 1.46 EPS 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 positive change from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.32 dividend on an annualized basis and a yield of 7.6%. Energy Transfer's payout ratio is presently 102.33%.

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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