OLD Mission Capital LLC Invests $428,000 in Energy Transfer LP $ET

OLD Mission Capital LLC purchased a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,044 shares of the pipeline company's stock, valued at approximately $428,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital A Wealth Management LLC bought a new position in shares of Energy Transfer during the fourth quarter worth $26,000. Fourth Dimension Wealth LLC bought a new position in shares of Energy Transfer during the fourth quarter worth $29,000. Vision Financial Markets LLC acquired a new stake in shares of Energy Transfer during the first quarter worth $33,000. Stone House Investment Management LLC acquired a new stake in shares of Energy Transfer during the first quarter worth $38,000. Finally, HWG Holdings LP acquired a new stake in shares of Energy Transfer during the first quarter worth $38,000. 38.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Scotiabank assumed coverage on shares of Energy Transfer in a report on Tuesday. They set a "sector outperform" rating and a $23.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Cowen assumed coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a "buy" rating on the stock. Morgan Stanley dropped 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. Finally, TD Cowen initiated coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a "buy" rating and a $22.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.54.

Energy Transfer Stock Down 0.7%

Shares of ET stock opened at $17.58 on Thursday. 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 1 year low of $14.60 and a 1 year high of $21.45. The firm's fifty day moving average price is $17.64 and its two-hundred day moving average price is $17.77. The firm has a market capitalization of $60.35 billion, a P/E ratio of 13.63, a PEG ratio of 0.93 and a beta of 0.85.

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 (EPS) for the quarter, meeting the consensus estimate of $0.32. The firm 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 was down 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 EPS. On average, equities analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Friday, August 8th. This represents a $1.32 annualized dividend and a dividend yield of 7.5%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is presently 102.33%.

Insider Activity

In other news, Director James Richard Perry sold 1,369 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the transaction, the director directly owned 24,523 shares in the company, valued at $453,185.04. The trade was a 5.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kelcy L. Warren acquired 1,350,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were purchased at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the purchase, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. The trade was a 1.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.28% of the stock is owned by 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.

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.