SpringVest Wealth Management LLC bought a new stake in Energy Transfer LP (NYSE:ET - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 15,917 shares of the pipeline company's stock, valued at approximately $289,000.
Other large investors have also recently bought and sold shares of the company. Ryan Investment Management Inc. bought a new position in Energy Transfer in the 2nd quarter valued at about $31,000. Vision Financial Markets LLC bought a new position in Energy Transfer in the 1st quarter valued at about $33,000. Stone House Investment Management LLC bought a new position in Energy Transfer in the 1st quarter valued at about $38,000. HWG Holdings LP bought a new position in Energy Transfer in the 1st quarter valued at about $38,000. Finally, N.E.W. Advisory Services LLC bought a new position in Energy Transfer in the 1st quarter valued at about $40,000. 38.22% of the stock is owned by institutional investors.
Energy Transfer Stock Performance
NYSE ET opened at $16.70 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. The firm has a market capitalization of $57.33 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 0.98 and a beta of 0.78. The firm's 50 day simple moving average is $17.39 and its 200 day simple moving average is $17.50. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45.
Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The business 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 firm's revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. As a group, research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.
Energy Transfer Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were given 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 7.9%. 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%.
Analyst Ratings Changes
Several research firms have weighed in on ET. Wells Fargo & Company reissued an "overweight" rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Morgan Stanley lowered their target price 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. Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a "buy" rating on the stock. TD Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a "buy" rating and a $22.00 target price on the stock. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Energy Transfer in a report on Wednesday. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $22.50.
Read Our Latest Analysis on ET
Insider Activity
In other news, Director Kelcy L. Warren purchased 1,350,000 shares of Energy Transfer stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the transaction, the director 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 3.28% of the company's stock.
Energy Transfer Company Profile
(
Free Report)
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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