MGO One Seven LLC Has $2.16 Million Stock Holdings in Energy Transfer LP $ET

Key Points

• MGO One Seven LLC boosted its holdings in Energy Transfer LP by 58.4% in Q2, now owning 119,035 shares valued at approximately $2.16 million.
• Energy Transfer recently announced a $0.33 quarterly dividend, maintaining an annualized rate of $1.32, which results in a dividend yield of 8.0%.
• Brokerages like TD Cowen and Wells Fargo set price targets of $22.00 and $23.00 respectively, with a consensus rating of "Moderate Buy" from analysts.

MGO One Seven LLC grew its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 58.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 119,035 shares of the pipeline company's stock after buying an additional 43,891 shares during the quarter. MGO One Seven LLC's holdings in Energy Transfer were worth $2,158,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of Energy Transfer by 93.4% during the 4th 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 in the last quarter. GAMMA Investing LLC increased its position in shares of Energy Transfer by 1,139.3% during the 1st quarter. GAMMA Investing LLC now owns 18,590 shares of the pipeline company's stock worth $346,000 after purchasing an additional 17,090 shares in the last quarter. CX Institutional acquired a new stake in shares of Energy Transfer during the 1st quarter worth about $50,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Energy Transfer by 23.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 941,444 shares of the pipeline company's stock worth $17,501,000 after purchasing an additional 176,812 shares in the last quarter. Finally, Mission Wealth Management LP increased its position in shares of Energy Transfer by 1.8% during the 1st quarter. Mission Wealth Management LP now owns 52,981 shares of the pipeline company's stock worth $985,000 after purchasing an additional 953 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ET. TD Cowen began 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. Weiss Ratings reiterated a "buy (b)" rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Scotiabank started coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 target price for the company. Wells Fargo & Company reissued an "overweight" rating and set a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Finally, Morgan Stanley decreased their price objective on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. Fourteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Energy Transfer currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.

Energy Transfer Stock Up 0.1%

Shares of NYSE:ET opened at $16.54 on Wednesday. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The company's 50-day moving average price is $17.29 and its two-hundred day moving average price is $17.43. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The firm has a market cap of $56.76 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.97 and a beta of 0.78.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $19.24 billion for 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 for the quarter was down 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 EPS. As a group, research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were paid a $0.33 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.32 annualized dividend and a dividend yield of 8.0%. Energy Transfer's payout ratio is 102.33%.

Insider Activity

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of Energy Transfer stock in a transaction dated Wednesday, August 20th. The shares were bought at an average price of $17.36 per share, with a total value of $23,436,000.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.28% of the company's stock.

About Energy Transfer

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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