North Star Investment Management Corp. Buys 30,167 Shares of Energy Transfer LP $ET

Key Points

• North Star Investment Management Corp. increased its stake in Energy Transfer LP by 63.0%, acquiring an additional 30,167 shares, bringing its total holdings to 78,059 shares, valued at approximately $1,415,000.
• Director Kelcy L. Warren purchased 1,350,000 shares of Energy Transfer at an average price of $17.36, increasing their ownership to 69,178,477 shares.
• Energy Transfer declared a quarterly dividend of $0.33 per share, representing a 7.6% dividend yield, while its recent earnings report indicated a net margin decrease year-over-year.

North Star Investment Management Corp. boosted its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 63.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,059 shares of the pipeline company's stock after acquiring an additional 30,167 shares during the quarter. North Star Investment Management Corp.'s holdings in Energy Transfer were worth $1,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of ET. Strong Tower Advisory Services bought a new position in shares of Energy Transfer in the first quarter worth approximately $2,604,000. Prevail Innovative Wealth Advisors LLC boosted its position in Energy Transfer by 316.9% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company's stock valued at $2,181,000 after buying an additional 89,173 shares during the period. Northern Trust Corp grew its holdings in Energy Transfer by 223.5% in the 1st quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company's stock worth $19,883,000 after acquiring an additional 738,885 shares during the last quarter. Appaloosa LP increased its position in shares of Energy Transfer by 0.9% in the first quarter. Appaloosa LP now owns 4,957,235 shares of the pipeline company's stock valued at $92,155,000 after acquiring an additional 42,500 shares during the period. Finally, Mountain Lake Investment Management LLC bought a new position in shares of Energy Transfer during the first quarter valued at about $782,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren acquired 1,350,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were 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. The trade was a 1.99% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.28% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on ET shares. Wells Fargo & Company reissued an "overweight" rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Morgan Stanley cut their price objective 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. TD Cowen initiated coverage on Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating and a $22.00 target price on the stock. Cowen began coverage on Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating for the company. Finally, 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 price target on the stock. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.50.

Energy Transfer Stock Down 0.0%

Shares of NYSE:ET opened at $17.40 on Friday. The firm has a market capitalization of $59.71 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.03 and a beta of 0.85. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. The stock has a 50 day moving average price of $17.52 and a 200-day moving average price of $17.60. 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 issued its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $19.24 billion for the quarter, compared to analysts' expectations of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The firm's revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 earnings per share. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 7.6%. 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 dividend payout ratio (DPR) is 102.33%.

Energy Transfer Company 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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