Locust Wood Capital Advisers LLC bought a new position in Energy Transfer LP (NYSE:ET – Get Rating) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 550,842 shares of the pipeline company's stock, valued at approximately $5,497,000.
Several other large investors also recently modified their holdings of ET. Blackstone Inc. grew its stake in shares of Energy Transfer by 7.7% in the first quarter. Blackstone Inc. now owns 184,681,477 shares of the pipeline company's stock worth $2,066,585,000 after purchasing an additional 13,128,425 shares during the last quarter. RR Advisors LLC grew its stake in shares of Energy Transfer by 74.0% in the first quarter. RR Advisors LLC now owns 8,154,000 shares of the pipeline company's stock worth $91,238,000 after purchasing an additional 3,469,000 shares during the last quarter. Beach Investment Counsel Inc. PA bought a new stake in shares of Energy Transfer in the first quarter worth about $31,865,000. Chiron Investment Management LLC purchased a new stake in Energy Transfer in the first quarter worth about $27,423,000. Finally, Bank of Montreal Can lifted its holdings in Energy Transfer by 20.4% in the first quarter. Bank of Montreal Can now owns 12,581,005 shares of the pipeline company's stock worth $145,059,000 after buying an additional 2,134,134 shares during the period. 38.80% of the stock is owned by institutional investors.
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Energy Transfer Price Performance
ET stock opened at $10.97 on Friday. The firm has a 50 day moving average price of $11.48 and a 200-day moving average price of $11.08. Energy Transfer LP has a 52-week low of $7.96 and a 52-week high of $12.49. The firm has a market capitalization of $33.86 billion, a price-to-earnings ratio of 8.78 and a beta of 1.85. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.98 and a current ratio of 1.15.
Energy Transfer (NYSE:ET – Get Rating) last released its earnings results on Wednesday, August 3rd. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.10. Energy Transfer had a net
margin of 4.83% and a return on equity of 11.98%. The firm had revenue of $25.95 billion during the quarter, compared to analyst estimates of $21.88 billion. Equities research analysts forecast that Energy Transfer LP will post 1.38 EPS for the current fiscal year.
Energy Transfer Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Monday, August 8th were given a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 8.39%. This is an increase from Energy Transfer's previous quarterly dividend of $0.20. Energy Transfer's dividend payout ratio (DPR) is 73.60%.
Insider Activity at Energy Transfer
In other news, Chairman Kelcy L. Warren purchased 1,591,092 shares of Energy Transfer stock in a transaction that occurred on Tuesday, August 9th. The stock was bought at an average price of $10.94 per share, with a total value of $17,406,546.48. Following the completion of the transaction, the chairman now directly owns 49,578,477 shares of the company's stock, valued at $542,388,538.38. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Richard D. Brannon bought 26,027 shares of the business's stock in a transaction on Thursday, July 14th. The stock was acquired at an average price of $9.47 per share, with a total value of $246,475.69. Following the transaction, the director now owns 388,347 shares in the company, valued at approximately $3,677,646.09. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Kelcy L. Warren bought 1,591,092 shares of the business's stock in a transaction on Tuesday, August 9th. The stock was bought at an average cost of $10.94 per share, with a total value of $17,406,546.48. Following the transaction, the chairman now owns 49,578,477 shares in the company, valued at approximately $542,388,538.38. The disclosure for this purchase can be found here. Insiders bought 4,045,866 shares of company stock valued at $46,895,136 over the last 90 days. Corporate insiders own 3.28% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have commented on ET shares. Barclays raised their price objective on shares of Energy Transfer from $13.00 to $14.00 and gave the stock an "overweight" rating in a report on Tuesday, August 16th. Royal Bank of Canada raised their price objective on shares of Energy Transfer from $15.00 to $16.00 and gave the stock an "outperform" rating in a report on Thursday, August 18th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $14.67.
Energy Transfer Company Profile
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Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.
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