Little House Capital LLC Invests $1.25 Million in Energy Transfer LP $ET

Key Points

• Little House Capital LLC invested $1.25 million in Energy Transfer LP by acquiring 68,968 shares during the second quarter.
• Energy Transfer's director, Kelcy L. Warren, purchased 1.35 million shares valued at approximately $23.4 million, increasing his ownership of the company.
• Based on recent analyst ratings, Energy Transfer has a consensus price target of $22.54, with most analysts assigning a "Buy" rating to its stock.

Little House Capital LLC acquired a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 68,968 shares of the pipeline company's stock, valued at approximately $1,250,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Northstar Advisory Group LLC acquired a new stake in shares of Energy Transfer during the second quarter worth $471,000. Atwood & Palmer Inc. lifted its stake in shares of Energy Transfer by 2,062.3% during the second quarter. Atwood & Palmer Inc. now owns 4,822 shares of the pipeline company's stock worth $87,000 after buying an additional 4,599 shares during the period. NBC Securities Inc. lifted its position in Energy Transfer by 6.9% during the second quarter. NBC Securities Inc. now owns 63,434 shares of the pipeline company's stock valued at $1,150,000 after purchasing an additional 4,070 shares during the period. Adams Asset Advisors LLC lifted its position in Energy Transfer by 0.6% during the second quarter. Adams Asset Advisors LLC now owns 1,423,717 shares of the pipeline company's stock valued at $25,812,000 after purchasing an additional 7,957 shares during the period. Finally, Parallel Advisors LLC lifted its position in Energy Transfer by 22.9% during the second quarter. Parallel Advisors LLC now owns 41,999 shares of the pipeline company's stock valued at $761,000 after purchasing an additional 7,817 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Energy Transfer

In related news, Director Kelcy L. Warren bought 1,350,000 shares of the business's stock in a transaction dated 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 completion of the purchase, the director directly 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 3.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ET shares. Wells Fargo & Company restated an "overweight" rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Cowen started coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating for the company. TD Cowen started coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating and a $22.00 target price for the company. Mizuho boosted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Finally, Morgan Stanley decreased their target price on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating for the company in a research report on Tuesday, August 26th. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Energy Transfer has a consensus rating of "Moderate Buy" and a consensus price target of $22.54.

Energy Transfer Trading Up 0.5%

Shares of Energy Transfer stock opened at $17.53 on Tuesday. The firm has a 50-day simple moving average of $17.55 and a two-hundred day simple moving average of $17.63. The company has a market cap of $60.17 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 0.99 and a beta of 0.85. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. 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 (NYSE:ET - Get Free Report) last released its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts' consensus estimates of $0.32. The business had revenue of $19.24 billion during the quarter, compared to analysts' expectations of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company's quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $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 business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were paid a dividend of $0.33 per share. 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 dividend yield of 7.5%. The ex-dividend date of this dividend was Friday, August 8th. Energy Transfer's dividend payout ratio is presently 102.33%.

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.

Want to see what other hedge funds are holding ET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer LP (NYSE:ET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.