Krilogy Financial LLC Makes New $295,000 Investment in Energy Transfer LP $ET

Key Points

• Krilogy Financial LLC has made a new investment of approximately $295,000 in Energy Transfer LP by acquiring 16,270 shares during the 2nd quarter.
• The company recently increased its quarterly dividend to $0.33 per share, providing a 7.5% yield, with a payout ratio of 102.33%.
• Energy Transfer's stock has an average target price of $22.54, with thirteen analysts recommending a "Buy" rating.

Krilogy Financial LLC bought a new stake in Energy Transfer LP (NYSE:ET - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,270 shares of the pipeline company's stock, valued at approximately $295,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ET. Brighton Jones LLC grew 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 purchasing an additional 11,844 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Energy Transfer by 11.6% during the 4th quarter. Ameriprise Financial Inc. now owns 389,075 shares of the pipeline company's stock worth $7,622,000 after buying an additional 40,329 shares during the last quarter. State of Wyoming increased its position in Energy Transfer by 70.9% during the fourth quarter. State of Wyoming now owns 10,135 shares of the pipeline company's stock worth $199,000 after buying an additional 4,203 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in Energy Transfer in the fourth quarter valued at approximately $79,113,000. Finally, Waverly Advisors LLC boosted its holdings in shares of Energy Transfer by 56.4% in the fourth quarter. Waverly Advisors LLC now owns 383,164 shares of the pipeline company's stock valued at $7,506,000 after acquiring an additional 138,231 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the purchase, the director owned 69,178,477 shares of the company's stock, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Price Performance

NYSE:ET opened at $17.57 on Wednesday. The firm has a market cap of $60.31 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 1.00 and a beta of 0.85. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The company's 50-day moving average is $17.55 and its two-hundred day moving average is $17.63. Energy Transfer LP has a 12-month low of $14.60 and a 12-month 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 for the quarter, meeting analysts' consensus estimates of $0.32. The business had revenue of $19.24 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 earnings per share. Research analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 7.5%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, August 8th. Energy Transfer's payout ratio is 102.33%.

Analyst Ratings Changes

Several research firms recently commented on ET. Cowen initiated coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating for the company. Scotiabank started coverage on shares of Energy Transfer in a report on Tuesday, September 2nd. They issued a "sector outperform" rating and a $23.00 target price for the company. TD Cowen assumed coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating and a $22.00 target price for the company. Morgan Stanley dropped their price target on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 26th. Finally, Mizuho increased their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $22.54.

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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