Jones Financial Companies Lllp Increases Stock Position in Energy Transfer LP $ET

Key Points

• Institutional and insider buying increased: Jones Financial Companies raised its Energy Transfer stake by 7.8% to 1.01 million shares, while insiders bought more than 1 million shares worth $21.5 million during the latest quarter.
• Strong quarterly results: Energy Transfer reported adjusted earnings of $0.59 per share, surpassing estimates of $0.38, while revenue rose 78.4% year over year to $34.33 billion.
• Dividend and analyst outlook remain favorable: The company pays a $0.34 quarterly dividend, representing a 6.4% annualized yield, and analysts maintain a “Moderate Buy” consensus with an average price target of $24.08 versus the stock’s $21.09 opening price.

Jones Financial Companies Lllp grew its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 7.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,009,594 shares of the pipeline company's stock after buying an additional 72,935 shares during the quarter. Jones Financial Companies Lllp's holdings in Energy Transfer were worth $19,354,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fiduciary Financial Advisors purchased a new stake in Energy Transfer during the second quarter worth about $115,000. Visionary Wealth Advisors grew its holdings in Energy Transfer by 2.6% in the second quarter. Visionary Wealth Advisors now owns 171,704 shares of the pipeline company's stock valued at $3,283,000 after purchasing an additional 4,354 shares during the last quarter. Whalen Wealth Management Inc. purchased a new position in shares of Energy Transfer in the second quarter valued at $530,000. Cibc World Market Inc. increased its position in shares of Energy Transfer by 0.4% in the second quarter. Cibc World Market Inc. now owns 356,235 shares of the pipeline company's stock valued at $6,811,000 after buying an additional 1,510 shares in the last quarter. Finally, Osbon Capital Management LLC acquired a new position in shares of Energy Transfer during the 2nd quarter worth $25,000. Institutional investors and hedge funds own 38.22% of the company's stock.

Insider Transactions at Energy Transfer

In other news, Director James Richard Perry bought 12,359 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the transaction, the director owned 208,046 shares in the company, valued at $4,208,770.58. The trade was a 6.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kelcy L. Warren purchased 647,968 shares of the stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average price of $21.26 per share, with a total value of $13,775,799.68. Following the completion of the acquisition, the director directly owned 147,901,879 shares in the company, valued at approximately $3,144,393,947.54. The trade was a 0.44% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 1,012,359 shares of company stock valued at $21,513,543 over the last quarter. Insiders own 3.28% of the company's stock.

Energy Transfer Stock Performance

Energy Transfer stock opened at $21.09 on Tuesday. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $21.64. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94. The company has a market capitalization of $72.62 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 0.74 and a beta of 0.55. The firm's fifty day moving average price is $20.02 and its 200 day moving average price is $19.45.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The company had revenue of $34.33 billion during the quarter, compared to analysts' expectations of $27.71 billion. During the same period in the prior year, the company posted $0.32 EPS. The firm's revenue for the quarter was up 78.4% on a year-over-year basis. On average, research analysts forecast that Energy Transfer LP will post 1.66 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 6.4%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.34. The ex-dividend date was Friday, August 7th. Energy Transfer's payout ratio is 92.52%.

Analyst Ratings Changes

A number of research firms recently commented on ET. Wall Street Zen upgraded Energy Transfer from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Royal Bank Of Canada reissued an "outperform" rating and set a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, July 21st. Stifel Nicolaus lifted their price objective on Energy Transfer from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Raymond James Financial reiterated a "strong-buy" rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Finally, Barclays reaffirmed an "overweight" rating and issued a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $24.08.

Energy Transfer Profile

Energy Transfer NYSE: ET is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company's operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.

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