Turtle Creek Wealth Advisors LLC Raises Stake in Energy Transfer LP (NYSE:ET)

Turtle Creek Wealth Advisors LLC increased its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 328.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 642,369 shares of the pipeline company's stock after purchasing an additional 492,531 shares during the period. Energy Transfer makes up 1.8% of Turtle Creek Wealth Advisors LLC's investment portfolio, making the stock its 10th largest holding. Turtle Creek Wealth Advisors LLC's holdings in Energy Transfer were worth $11,942,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Alps Advisors Inc. raised its holdings in shares of Energy Transfer by 12.9% during the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock valued at $1,400,831,000 after purchasing an additional 8,613,645 shares during the last quarter. FMR LLC raised its position in Energy Transfer by 15.7% in the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock worth $756,840,000 after acquiring an additional 5,254,721 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Energy Transfer by 5.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company's stock worth $387,416,000 after acquiring an additional 1,093,381 shares during the period. Westwood Holdings Group Inc. raised its position in Energy Transfer by 18.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company's stock worth $319,929,000 after acquiring an additional 2,512,060 shares during the period. Finally, Natixis raised its position in Energy Transfer by 7.1% in the fourth quarter. Natixis now owns 14,619,124 shares of the pipeline company's stock worth $286,389,000 after acquiring an additional 962,800 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ET. Royal Bank Of Canada reiterated an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. TD Cowen began coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating and a $22.00 price target on the stock. Cowen began coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating on the stock. Morgan Stanley increased their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Finally, Mizuho increased their price target 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. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Energy Transfer has a consensus rating of "Moderate Buy" and an average price target of $22.58.

Insiders Place Their Bets

In related news, Director James Richard Perry sold 1,369 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the completion of the transaction, the director directly owned 24,523 shares of the company's stock, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.28% of the company's stock.

Energy Transfer Stock Up 0.1%

Shares of ET stock opened at $17.45 on Monday. The company has a market capitalization of $59.88 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 0.55 and a beta of 0.79. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The company's fifty day moving average price is $17.75 and its 200-day moving average price is $18.41. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92.

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 for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $21.02 billion during the quarter, compared to analysts' expectations of $22.28 billion. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. Energy Transfer's quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share. Sell-side analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were paid a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a yield of 7.51%. 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 presently 99.24%.

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.

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