Energy Transfer LP $ET Shares Acquired by Level Four Advisory Services LLC

Key Points

• Level Four Advisory Services LLC increased its stake in Energy Transfer LP by 20.4%, acquiring an additional 26,334 shares during the first quarter, bringing their total holdings to 155,628 shares valued at approximately $2.89 million.
• Several institutional investors, including Bowen Hanes & Co. Inc. and Northern Trust Corp, also boosted their positions in Energy Transfer, contributing to 38.22% of the stock being held by institutional investors.
• Energy Transfer recently announced a quarterly dividend of $0.33, maintaining a yield of 7.6%, though its dividend payout ratio stands at 102.33%.

Level Four Advisory Services LLC raised its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 20.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 155,628 shares of the pipeline company's stock after purchasing an additional 26,334 shares during the quarter. Level Four Advisory Services LLC's holdings in Energy Transfer were worth $2,893,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ET. Capital A Wealth Management LLC purchased a new stake in shares of Energy Transfer during the 4th quarter worth about $26,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Energy Transfer during the 4th quarter worth about $29,000. Vision Financial Markets LLC purchased a new stake in shares of Energy Transfer during the 1st quarter worth about $33,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer during the 1st quarter worth about $38,000. Finally, Stone House Investment Management LLC purchased a new stake in shares of Energy Transfer during the 1st quarter worth about $38,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ET has been the topic of several recent analyst reports. Wells Fargo & Company reissued an "overweight" rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Mizuho upped their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Cowen assumed coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating for the company. TD Cowen assumed coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating and a $22.00 price target for the company. Finally, JPMorgan Chase & Co. reduced 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. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Energy Transfer currently has an average rating of "Moderate Buy" and a consensus target price of $22.75.

Energy Transfer Price Performance

ET stock traded up $0.0650 during mid-day trading on Friday, reaching $17.5250. The company's stock had a trading volume of 16,829,699 shares, compared to its average volume of 14,696,027. The stock has a market cap of $60.16 billion, a PE ratio of 13.59, a P/E/G ratio of 0.92 and a beta of 0.83. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The company's 50 day moving average is $17.67 and its two-hundred day moving average is $17.91.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts' consensus estimates of $0.32. The company had revenue of $19.24 billion during 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%. Energy Transfer's quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 EPS. Equities 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. Shareholders of record on Friday, August 8th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date was Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is currently 102.33%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $18.48, for a total value of $25,299.12. Following the completion of the sale, the director owned 24,523 shares in the company, valued at approximately $453,185.04. This represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kelcy L. Warren acquired 1,350,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the acquisition, the director owned 69,178,477 shares in the company, valued at $1,200,938,360.72. The trade was a 1.99% increase in their position. The disclosure for this purchase can be found here. 3.28% of the stock is currently owned by corporate insiders.

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.