Energy Transfer LP (NYSE:ET) Shares Bought by Plan Group Financial LLC

Key Points

• Plan Group Financial LLC increased its holdings in Energy Transfer LP by 205.0% in Q1, owning 159,071 shares valued at approximately $2.96 million, making it the 25th largest position in their portfolio.
• Several analysts have set varied price targets for Energy Transfer, with Mizuho raising its target to $23.00 and Wells Fargo reducing it to $21.00, maintaining an overall Moderate Buy consensus rating.
• Energy Transfer announced a quarterly dividend of $0.33 per share, representing an annualized yield of 7.4%, which is a continuation of its previous dividend payout.

Plan Group Financial LLC increased its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 205.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 159,071 shares of the pipeline company's stock after purchasing an additional 106,921 shares during the quarter. Energy Transfer accounts for about 1.1% of Plan Group Financial LLC's holdings, making the stock its 25th largest holding. Plan Group Financial LLC's holdings in Energy Transfer were worth $2,957,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new position in Energy Transfer in the 4th quarter valued at about $26,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Energy Transfer during the 4th quarter valued at approximately $29,000. HWG Holdings LP acquired a new position in Energy Transfer in the first quarter valued at approximately $38,000. N.E.W. Advisory Services LLC purchased a new position in Energy Transfer in the first quarter worth approximately $40,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Energy Transfer during the fourth quarter worth $46,000. Hedge funds and other institutional investors own 38.22% of the company's stock.

Analyst Ratings Changes

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

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 stock was 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 of the company's stock, valued at approximately $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 accessible through this link. Insiders own 3.28% of the company's stock.

Energy Transfer Stock Up 0.8%

NYSE ET traded up $0.14 during trading on Wednesday, reaching $17.87. 28,386,989 shares of the company's stock were exchanged, compared to its average volume of 12,858,506. The company has a 50 day moving average price of $17.79 and a two-hundred day moving average price of $18.18. The stock has a market cap of $61.32 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 0.92 and a beta of 0.83. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.92 and a current ratio of 1.12.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.32. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. During the same period in the prior year, the business earned $0.35 earnings per share. Energy Transfer's quarterly revenue was down 7.2% on a year-over-year basis. On average, equities research analysts anticipate 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 will be paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a dividend yield of 7.4%. Energy Transfer's dividend payout ratio is 99.24%.

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.