Venture Visionary Partners LLC Acquires 1,936 Shares of Energy Transfer LP $ET

Venture Visionary Partners LLC grew its stake in shares of Energy Transfer LP (NYSE:ET) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 146,807 shares of the pipeline company’s stock after purchasing an additional 1,936 shares during the quarter. Venture Visionary Partners LLC’s holdings in Energy Transfer were worth $2,662,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Strong Tower Advisory Services purchased a new stake in shares of Energy Transfer during the first quarter valued at approximately $2,604,000. Prevail Innovative Wealth Advisors LLC boosted its stake in shares of Energy Transfer by 316.9% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company’s stock valued at $2,181,000 after purchasing an additional 89,173 shares during the period. Northern Trust Corp boosted its stake in shares of Energy Transfer by 223.5% during the first quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company’s stock valued at $19,883,000 after purchasing an additional 738,885 shares during the period. Appaloosa LP boosted its stake in shares of Energy Transfer by 0.9% during the first quarter. Appaloosa LP now owns 4,957,235 shares of the pipeline company’s stock valued at $92,155,000 after purchasing an additional 42,500 shares during the period. Finally, Mountain Lake Investment Management LLC purchased a new stake in shares of Energy Transfer during the first quarter valued at approximately $782,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 1.5%

NYSE:ET opened at $17.20 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The company has a 50-day moving average price of $17.52 and a 200-day moving average price of $17.58. The stock has a market cap of $59.04 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 1.03 and a beta of 0.85. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The company 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%. Energy Transfer’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period last year, the business earned $0.35 EPS. Equities analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 7.7%. The ex-dividend date was Friday, August 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is 102.33%.

Analyst Ratings Changes

A number of analysts have recently weighed in on ET shares. 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, August 12th. Morgan Stanley decreased their price objective on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. TD Cowen assumed coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a “buy” rating and a $22.00 target price for the company. Scotiabank assumed coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 target price for the company. Finally, Cowen assumed coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a “buy” rating for the company. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Insider Activity

In other Energy Transfer news, Director Kelcy L. Warren purchased 1,350,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was bought at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the purchase, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. The trade was a 1.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.28% of the stock is currently 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.