Madison Asset Management LLC Purchases Shares of 30,500 Energy Transfer LP (NYSE:ET)

Madison Asset Management LLC bought a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 30,500 shares of the pipeline company's stock, valued at approximately $567,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new position in shares of Energy Transfer in the 4th quarter valued at $26,000. Fourth Dimension Wealth LLC acquired a new position in shares of Energy Transfer in the 4th quarter valued at $29,000. HWG Holdings LP acquired a new position in shares of Energy Transfer in the 1st quarter valued at $38,000. Vermillion Wealth Management Inc. acquired a new position in shares of Energy Transfer in the 4th quarter valued at $46,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of Energy Transfer in the 4th quarter valued at $50,000. 38.22% of the stock is currently owned by institutional investors.

Insider Activity at Energy Transfer

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction that occurred on 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 directly owned 24,523 shares in the company, valued at $453,185.04. The trade was a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.28% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ET. Cowen began coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating for the company. Mizuho boosted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. TD Cowen initiated coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 price target for the company. Wells Fargo & Company cut their price target on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 19th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.58.

Energy Transfer Stock Up 0.0%

Shares of Energy Transfer stock traded up $0.01 on Friday, hitting $17.73. 10,426,534 shares of the company's stock traded hands, compared to its average volume of 11,562,886. The stock has a market cap of $60.83 billion, a P/E ratio of 13.43, a PEG ratio of 0.92 and a beta of 0.79. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.41. The firm's 50-day moving average is $17.79 and its 200 day moving average is $18.29. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The company had revenue of $21.02 billion for the quarter, compared to analysts' expectations of $22.28 billion. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the business posted $0.32 earnings per share. Equities analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Friday, August 8th will be issued a dividend of $0.33 per share. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a dividend yield of 7.45%. The ex-dividend date of this dividend is Friday, August 8th. Energy Transfer's dividend payout ratio (DPR) is currently 99.24%.

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.