Jeppson Wealth Management LLC Takes Position in Energy Transfer LP $ET

Key Points

• Jeppson Wealth Management LLC has acquired 18,930 shares of Energy Transfer LP, valued at approximately $343,000, as part of its investment strategy during the second quarter.
• Energy Transfer recently reported earnings of $0.32 per share, meeting analyst expectations, while revenues fell by 7.2% year-over-year to $19.24 billion.
• The company has announced a quarterly dividend increase to $0.33 per share, representing an annual yield of 7.6%, although its dividend payout ratio stands at 102.33%.

Jeppson Wealth Management LLC acquired a new position in Energy Transfer LP (NYSE:ET - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,930 shares of the pipeline company's stock, valued at approximately $343,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Ryan Investment Management Inc. bought a new position in shares of Energy Transfer during the second quarter valued at approximately $31,000. Vision Financial Markets LLC bought a new position in shares of Energy Transfer during the first quarter valued at $33,000. HWG Holdings LP purchased a new position in Energy Transfer in the first quarter worth about $38,000. Stone House Investment Management LLC purchased a new position in Energy Transfer in the 1st quarter worth approximately $38,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Energy Transfer during the first quarter valued at $40,000. Institutional investors own 38.22% of the company's stock.

Energy Transfer Trading Up 1.7%

Shares of Energy Transfer stock opened at $17.40 on Thursday. The company has a market cap of $59.71 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 1.01 and a beta of 0.85. The firm has a 50-day simple moving average of $17.52 and a two-hundred day simple moving average of $17.60. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $19.24 billion for the quarter, compared to the consensus estimate of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company's revenue was down 7.2% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. As a group, equities analysts predict 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 an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date was Friday, August 8th. Energy Transfer's dividend payout ratio (DPR) is presently 102.33%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Kelcy L. Warren acquired 1,350,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the transaction, the director owned 69,178,477 shares of the company's stock, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.28% of the company's stock.

About Energy Transfer

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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