American Research & Management Co. boosted its position in shares of Energy Transfer LP (NYSE:ET – Get Rating) by 1.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 215,090 shares of the pipeline company's stock after purchasing an additional 4,100 shares during the quarter. American Research & Management Co.'s holdings in Energy Transfer were worth $2,147,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Carl Stuart Investment Advisor Inc. acquired a new position in shares of Energy Transfer in the first quarter valued at approximately $27,000. Urban Wealth Management LLC bought a new position in Energy Transfer during the 2nd quarter worth about $32,000. Retirement Group LLC grew its holdings in shares of Energy Transfer by 40.8% in the 1st quarter. Retirement Group LLC now owns 3,450 shares of the pipeline company's stock valued at $39,000 after acquiring an additional 1,000 shares in the last quarter. Ancora Advisors LLC grew its holdings in shares of Energy Transfer by 40.7% in the 1st quarter. Ancora Advisors LLC now owns 5,535 shares of the pipeline company's stock valued at $42,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Strategic Asset Management LLC grew its holdings in shares of Energy Transfer by 68.6% in the 2nd quarter. Strategic Asset Management LLC now owns 4,671 shares of the pipeline company's stock valued at $47,000 after acquiring an additional 1,900 shares in the last quarter. Institutional investors and hedge funds own 38.80% of the company's stock.
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Energy Transfer Price Performance
Shares of NYSE ET traded up $0.06 during midday trading on Friday, reaching $11.03. 18,930,096 shares of the company were exchanged, compared to its average volume of 21,248,178. Energy Transfer LP has a one year low of $7.96 and a one year high of $12.49. The stock's 50-day moving average price is $11.50 and its 200-day moving average price is $11.10. The company has a quick ratio of 0.98, a current ratio of 1.15 and a debt-to-equity ratio of 1.39. The stock has a market cap of $34.05 billion, a P/E ratio of 8.82 and a beta of 1.85.
Energy Transfer (NYSE:ET – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The pipeline company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. Energy Transfer had a return on equity of 11.98% and a net
margin of 4.83%. The firm had revenue of $25.95 billion for the quarter, compared to analyst estimates of $21.88 billion. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.38 earnings per share for the current fiscal year.
Energy Transfer Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Monday, August 8th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.34%. This is an increase from Energy Transfer's previous quarterly dividend of $0.20. The ex-dividend date was Friday, August 5th. Energy Transfer's dividend payout ratio (DPR) is 73.60%.
Wall Street Analysts Forecast Growth
ET has been the subject of several research reports. 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 research report on Thursday, August 18th. 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 research report on Tuesday, August 16th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Energy Transfer has a consensus rating of "Buy" and an average target price of $14.67.
Insider Transactions at Energy Transfer
In other Energy Transfer news, Chairman Kelcy L. Warren bought 1,591,092 shares of the stock in a transaction on Tuesday, August 9th. The stock was acquired at an average cost of $10.94 per share, for a total transaction of $17,406,546.48. Following the completion of the acquisition, the chairman now owns 49,578,477 shares in the company, valued at approximately $542,388,538.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Richard D. Brannon bought 26,027 shares of the business's stock in a transaction that occurred on Thursday, July 14th. The shares were bought at an average price of $9.47 per share, with a total value of $246,475.69. Following the completion of the transaction, the director now directly owns 388,347 shares in the company, valued at $3,677,646.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Kelcy L. Warren acquired 1,591,092 shares of the business's stock in a transaction on Tuesday, August 9th. The stock was acquired at an average cost of $10.94 per share, for a total transaction of $17,406,546.48. Following the transaction, the chairman now owns 49,578,477 shares of the company's stock, valued at approximately $542,388,538.38. The disclosure for this purchase can be found here. Insiders purchased 4,045,866 shares of company stock worth $46,895,136 over the last ninety days. 3.28% of the stock is owned by insiders.
About Energy Transfer
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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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