Energy Transfer LP (NYSE:ET) Stock Position Lifted by Inspire Advisors LLC

Key Points

• Inspire Advisors LLC increased its stake in Energy Transfer LP by 82.4%, owning 45,219 shares valued at approximately $841,000 at the end of the first quarter.
• Energy Transfer recently declared a quarterly dividend of $0.33 per share, which reflects a 7.45% yield, and will be paid on August 19th.
• Analysts maintain a positive outlook for Energy Transfer, with an average target price of $22.58 and numerous analysts issuing "buy" ratings for the stock.

Inspire Advisors LLC grew its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 82.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 45,219 shares of the pipeline company's stock after purchasing an additional 20,423 shares during the quarter. Inspire Advisors LLC's holdings in Energy Transfer were worth $841,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Wedbush Securities Inc. boosted its holdings in shares of Energy Transfer by 44.2% in the 4th quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company's stock valued at $2,650,000 after purchasing an additional 41,438 shares during the last quarter. Greenland Capital Management LP acquired a new position in Energy Transfer in the fourth quarter valued at $2,253,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Energy Transfer during the fourth quarter valued at about $597,000. Bank of Montreal Can increased its stake in Energy Transfer by 12,090.8% during the fourth quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock worth $244,005,000 after acquiring an additional 12,353,441 shares during the last quarter. Finally, Strong Tower Advisory Services purchased a new position in shares of Energy Transfer in the 1st quarter worth about $2,604,000. Hedge funds and other institutional investors own 38.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ET shares. Mizuho boosted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Wells Fargo & Company dropped their price objective 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 assumed coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Finally, Cowen initiated coverage on Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $22.58.

Energy Transfer Stock Up 0.4%

Shares of NYSE ET traded up $0.07 during midday trading on Monday, reaching $17.79. 12,677,090 shares of the company's stock were exchanged, compared to its average volume of 11,398,178. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.92 and a current ratio of 1.12. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The business's fifty day moving average price is $17.78 and its two-hundred day moving average price is $18.26. The stock has a market capitalization of $61.05 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.92 and a beta of 0.79.

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

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Friday, August 8th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.42%. The ex-dividend date is Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is 99.24%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the stock in a transaction 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 in the company, valued at $453,185.04. This represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.28% of the stock is 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.