Quantum Financial Planning Services Inc. Buys Shares of 10,000 Energy Transfer LP $ET

Quantum Financial Planning Services Inc. bought a new stake in shares of Energy Transfer LP (NYSE:ET) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,000 shares of the pipeline company’s stock, valued at approximately $181,000.

A number of other hedge funds have also added to or reduced their stakes in ET. Brighton Jones LLC grew its holdings in Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after buying an additional 11,844 shares in the last quarter. GAMMA Investing LLC grew its holdings in Energy Transfer by 1,139.3% during the 1st quarter. GAMMA Investing LLC now owns 18,590 shares of the pipeline company’s stock valued at $346,000 after buying an additional 17,090 shares in the last quarter. Park Avenue Securities LLC grew its holdings in Energy Transfer by 43.1% during the 1st quarter. Park Avenue Securities LLC now owns 17,324 shares of the pipeline company’s stock valued at $322,000 after buying an additional 5,216 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Energy Transfer by 22.7% during the 1st quarter. Farther Finance Advisors LLC now owns 45,507 shares of the pipeline company’s stock valued at $852,000 after buying an additional 8,424 shares in the last quarter. Finally, CX Institutional purchased a new position in Energy Transfer during the 1st quarter valued at about $50,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

NYSE:ET opened at $16.30 on Friday. The business has a 50 day moving average of $17.34 and a 200 day moving average of $17.46. The company has a market capitalization of $55.95 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 0.96 and a beta of 0.78. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $19.24 billion during the quarter, compared to the consensus estimate of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.Energy Transfer’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. On average, sell-side analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 8.1%. 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 is presently 102.33%.

Insiders Place Their Bets

In other news, Director Kelcy L. Warren bought 1,350,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was bought at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the transaction, the director directly owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. This represents a 1.99% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.28% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ET shares. Scotiabank initiated coverage on Energy Transfer in a report on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 target price for the company. Cowen initiated coverage on Energy Transfer in a report on Monday, July 7th. They set a “buy” rating for the company. Morgan Stanley cut their price objective on 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 initiated coverage on Energy Transfer in a report on Monday, July 7th. They set a “buy” rating and a $22.00 price objective for the company. Finally, 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 report on Tuesday, August 12th. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

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.