SL Advisors LLC raised its stake in shares of Energy Transfer LP (NYSE:ET – Free Report) by 11.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 473,898 shares of the pipeline company’s stock after acquiring an additional 48,920 shares during the period. Energy Transfer makes up 15.9% of SL Advisors LLC’s holdings, making the stock its biggest holding. SL Advisors LLC’s holdings in Energy Transfer were worth $9,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of the company. Basepoint Wealth LLC acquired a new position in shares of Energy Transfer in the fourth quarter valued at approximately $25,000. Gables Capital Management Inc. increased its holdings in shares of Energy Transfer by 60.0% in the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 600 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Energy Transfer during the 1st quarter worth $35,000. Sarver Vrooman Wealth Advisors acquired a new position in Energy Transfer during the fourth quarter worth approximately $32,000. Finally, Financial Life Planners purchased a new stake in shares of Energy Transfer in the first quarter valued at about $40,000. 38.22% of the stock is owned by institutional investors and hedge funds.
Energy Transfer Stock Up 0.7%
Shares of Energy Transfer stock opened at $20.93 on Thursday. Energy Transfer LP has a 1-year low of $16.18 and a 1-year high of $20.96. The business has a 50-day moving average of $19.71 and a 200-day moving average of $19.28. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94. The company has a market capitalization of $72.07 billion, a PE ratio of 14.24, a P/E/G ratio of 2.04 and a beta of 0.55.
Energy Transfer Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be issued a $0.34 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.36 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Friday, August 7th. Energy Transfer’s dividend payout ratio is presently 92.52%.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on ET shares. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Wall Street Zen upgraded shares of Energy Transfer from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Jefferies Financial Group reiterated a “buy” rating on shares of Energy Transfer in a report on Wednesday, August 5th. Finally, Citigroup reiterated a “buy” rating and set a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Buy” and a consensus target price of $23.92.
Read Our Latest Analysis on ET
Insider Buying and Selling at Energy Transfer
In other news, Director James Richard Perry purchased 12,359 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average cost of $20.23 per share, with a total value of $250,022.57. Following the transaction, the director owned 208,046 shares in the company, valued at approximately $4,208,770.58. The trade was a 6.32% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.28% of the company’s stock.
Energy Transfer Profile
Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.
Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.
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