Energy Transfer LP (NYSE:ET) Shares Bought by Tectonic Advisors LLC

Tectonic Advisors LLC raised its stake in Energy Transfer LP (NYSE:ET - Free Report) by 4.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 550,711 shares of the pipeline company's stock after acquiring an additional 23,363 shares during the period. Tectonic Advisors LLC's holdings in Energy Transfer were worth $10,238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mountain Hill Investment Partners Corp. acquired a new position in Energy Transfer in the 4th quarter worth about $25,000. Capital A Wealth Management LLC acquired a new position in Energy Transfer in the 4th quarter worth about $26,000. Fourth Dimension Wealth LLC acquired a new position in Energy Transfer in the 4th quarter worth about $29,000. HWG Holdings LP acquired a new position in Energy Transfer in the 1st quarter worth about $38,000. Finally, Tidemark LLC increased its holdings in Energy Transfer by 58.9% in the 4th quarter. Tidemark LLC now owns 2,188 shares of the pipeline company's stock worth $43,000 after purchasing an additional 811 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Price Performance

Shares of NYSE ET traded up $0.13 during mid-day trading on Tuesday, reaching $17.62. The company's stock had a trading volume of 11,613,801 shares, compared to its average volume of 15,761,519. The firm has a market capitalization of $60.45 billion, a PE ratio of 13.25, a P/E/G ratio of 0.55 and a beta of 0.79. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. The stock has a fifty day moving average of $17.77 and a two-hundred day moving average of $18.40. 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 posted its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion during the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The company's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the company earned $0.32 EPS. As a group, sell-side 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 was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were issued a dividend of $0.3275 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 7.44%. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer's dividend payout ratio (DPR) is presently 99.24%.

Analyst Ratings Changes

ET has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price target on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Mizuho increased their price target on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Morgan Stanley increased their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. JPMorgan Chase & Co. decreased their price target 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. Finally, Citigroup reissued a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.58.

Insider Buying and Selling

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $18.48, for a total transaction of $25,299.12. Following the sale, the director owned 24,523 shares of the company's stock, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.28% of the stock is owned by insiders.

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.