Virtu Financial LLC Invests $1.74 Million in Energy Transfer LP (NYSE:ET)

Key Points

• Virtu Financial LLC has invested approximately $1.74 million in Energy Transfer LP by purchasing 93,649 shares in the first quarter.
• Several research firms have given Energy Transfer a consensus rating of "Moderate Buy," with an average price target of $22.58.
• Energy Transfer declared a quarterly dividend of $0.33 per share, reflecting a 7.6% yield, with the payout ratio standing at 102.33%.

Virtu Financial LLC bought a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 93,649 shares of the pipeline company's stock, valued at approximately $1,741,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. True North Advisors LLC purchased a new stake in shares of Energy Transfer in the first quarter valued at about $1,852,000. LaSalle St. Investment Advisors LLC lifted its stake in shares of Energy Transfer by 18.6% during the first quarter. LaSalle St. Investment Advisors LLC now owns 48,192 shares of the pipeline company's stock valued at $895,000 after buying an additional 7,542 shares during the period. Beam Wealth Advisors Inc. lifted its stake in shares of Energy Transfer by 1.5% during the first quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company's stock valued at $742,000 after buying an additional 585 shares during the period. Fayez Sarofim & Co lifted its stake in shares of Energy Transfer by 33.1% during the first quarter. Fayez Sarofim & Co now owns 245,013 shares of the pipeline company's stock valued at $4,555,000 after buying an additional 60,957 shares during the period. Finally, Maryland State Retirement & Pension System lifted its stake in shares of Energy Transfer by 3.0% during the first quarter. Maryland State Retirement & Pension System now owns 2,618,836 shares of the pipeline company's stock valued at $48,684,000 after buying an additional 76,981 shares during the period. Hedge funds and other institutional investors own 38.22% of the company's stock.

Energy Transfer Trading Down 0.5%

Shares of Energy Transfer stock traded down $0.10 during trading hours on Thursday, hitting $17.40. The company's stock had a trading volume of 7,516,227 shares, compared to its average volume of 15,597,877. The business has a fifty day moving average of $17.77 and a 200 day moving average of $18.06. The company has a market capitalization of $59.71 billion, a PE ratio of 13.48, a P/E/G ratio of 0.91 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 quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts' consensus estimates of $0.32. The business had revenue of $19.24 billion during 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 business's revenue was down 7.2% on a year-over-year basis. During the same period last year, the business earned $0.35 EPS. As a group, equities analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend is Friday, August 8th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is presently 102.33%.

Insider Buying and Selling at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $18.48, for a total value of $25,299.12. Following the completion of the sale, the director 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 available at the SEC website. Insiders own 3.28% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ET. Wells Fargo & Company reissued an "overweight" rating and set a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday. Cowen began coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating for the company. Mizuho upped 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. TD Cowen began coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating and a $22.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their price target on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $22.75.

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.