Pure Financial Advisors LLC Acquires New Holdings in Energy Transfer LP (NYSE:ET)

Pure Financial Advisors LLC bought a new position in Energy Transfer LP (NYSE:ET - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 24,473 shares of the pipeline company's stock, valued at approximately $455,000.

Several other institutional investors and hedge funds have also bought and sold shares of ET. Wedbush Securities Inc. grew its position in Energy Transfer by 44.2% during the fourth quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company's stock worth $2,650,000 after buying an additional 41,438 shares in the last quarter. Greenland Capital Management LP purchased a new stake in Energy Transfer in the fourth quarter valued at approximately $2,253,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Energy Transfer in the fourth quarter valued at approximately $597,000. Bank of Montreal Can lifted its position in Energy Transfer by 12,090.8% during the fourth quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock valued at $244,005,000 after purchasing an additional 12,353,441 shares during the last quarter. Finally, Strong Tower Advisory Services purchased a new position in Energy Transfer in the 1st quarter worth approximately $2,604,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ET shares. Citigroup restated a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Mizuho lifted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. UBS Group reissued a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company reduced their price objective on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.64.

Insider Activity

In other news, Director James Richard Perry sold 1,369 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 24,523 shares of the company's stock, valued at approximately $453,185.04. This represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.28% of the company's stock.

Energy Transfer Price Performance

ET stock opened at $18.20 on Friday. The stock has a market capitalization of $62.45 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.57 and a beta of 0.78. The firm's 50-day moving average price is $17.56 and its two-hundred day moving average price is $18.51. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.41. Energy Transfer LP has a 12-month low of $14.60 and a 12-month 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, topping the consensus estimate 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%. Energy Transfer's quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share. As a group, equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were given a $0.3275 dividend. This represents a $1.31 annualized dividend and a dividend yield of 7.20%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 9th. Energy Transfer's dividend payout ratio (DPR) is currently 99.24%.

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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