CoreCap Advisors LLC lifted its holdings in Energy Transfer LP (NYSE:ET – Free Report) by 12.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 381,258 shares of the pipeline company’s stock after purchasing an additional 43,049 shares during the period. CoreCap Advisors LLC’s holdings in Energy Transfer were worth $7,537,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Alps Advisors Inc. boosted its stake in shares of Energy Transfer by 8.0% during the 4th quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock worth $1,382,573,000 after acquiring an additional 6,192,066 shares in the last quarter. Mizuho Markets Americas LLC purchased a new position in Energy Transfer in the 1st quarter worth about $61,760,000. SCS Capital Management LLC raised its holdings in Energy Transfer by 1,859.8% during the 2nd quarter. SCS Capital Management LLC now owns 1,942,908 shares of the pipeline company’s stock worth $37,148,000 after buying an additional 1,843,771 shares during the period. Bank of America Corp DE lifted its stake in Energy Transfer by 5.7% during the first quarter. Bank of America Corp DE now owns 30,956,358 shares of the pipeline company’s stock valued at $597,458,000 after buying an additional 1,656,609 shares in the last quarter. Finally, Empirical Finance LLC boosted its holdings in shares of Energy Transfer by 86.8% in the first quarter. Empirical Finance LLC now owns 1,404,756 shares of the pipeline company’s stock worth $27,112,000 after buying an additional 652,711 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, Director James Perry bought 12,359 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was purchased at an average price of $20.23 per share, with a total value of $250,022.57. Following the completion of the transaction, the director directly owned 208,046 shares of the company’s stock, valued at $4,208,770.58. This trade represents a 6.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kelcy Warren purchased 647,968 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the transaction, the director owned 147,901,879 shares of the company’s stock, valued at approximately $3,144,393,947.54. This trade represents a 0.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 1,012,359 shares of company stock valued at $21,513,543 in the last ninety days. Company insiders own 3.28% of the company’s stock.
Analysts Set New Price Targets
View Our Latest Analysis on Energy Transfer
Energy Transfer Stock Up 0.7%
NYSE:ET traded up $0.14 during trading hours on Thursday, reaching $20.62. The company’s stock had a trading volume of 5,453,315 shares, compared to its average volume of 12,453,692. 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 cap of $71.00 billion, a price-to-earnings ratio of 14.03 and a beta of 0.60. Energy Transfer LP has a one year low of $16.18 and a one year high of $21.84. The business’s 50-day moving average is $20.90 and its 200-day moving average is $19.98.
Energy Transfer (NYSE:ET – Get Free Report) last posted its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.21. The company had revenue of $34.33 billion for the quarter, compared to analyst estimates of $27.71 billion. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The business’s revenue was up 78.4% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. Equities research analysts predict that Energy Transfer LP will post 1.73 EPS for the current year.
Energy Transfer Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were issued a $0.34 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.3375. The ex-dividend date was Friday, August 7th. This represents a $1.36 annualized dividend and a yield of 6.6%. Energy Transfer’s dividend payout ratio is presently 92.52%.
Energy Transfer Profile
Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.
The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.
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