Soltis Investment Advisors LLC boosted its holdings in shares of Energy Transfer LP (NYSEAMERICAN:ET – Free Report) by 306.1% in the third quarter, HoldingsChannel reports. The fund owned 71,039 shares of the pipeline company’s stock after buying an additional 53,547 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Energy Transfer were worth $1,404,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of ET. Arrow Investment Advisors LLC grew its stake in Energy Transfer by 4.9% during the 2nd quarter. Arrow Investment Advisors LLC now owns 10,866 shares of the pipeline company’s stock valued at $208,000 after acquiring an additional 505 shares in the last quarter. Cypress Capital Management LLC WY lifted its position in shares of Energy Transfer by 3.9% in the second quarter. Cypress Capital Management LLC WY now owns 13,439 shares of the pipeline company’s stock worth $257,000 after purchasing an additional 509 shares in the last quarter. Argent Trust Co lifted its position in shares of Energy Transfer by 2.1% in the second quarter. Argent Trust Co now owns 26,035 shares of the pipeline company’s stock worth $498,000 after purchasing an additional 529 shares in the last quarter. State of Wyoming lifted its position in shares of Energy Transfer by 2.5% in the second quarter. State of Wyoming now owns 22,822 shares of the pipeline company’s stock worth $436,000 after purchasing an additional 548 shares in the last quarter. Finally, Keybank National Association OH boosted its holdings in shares of Energy Transfer by 0.3% during the first quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock worth $4,231,000 after purchasing an additional 556 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.
Energy Transfer Stock Performance
Shares of ET stock opened at $20.91 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $21.84. The stock’s 50-day moving average is $20.76 and its two-hundred day moving average is $19.65. The firm has a market cap of $72.00 billion, a P/E ratio of 14.20, a PEG ratio of 0.72 and a beta of 0.60.
Energy Transfer (NYSEAMERICAN:ET – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.21. The company had revenue of $34.33 billion during the quarter, compared to the consensus estimate of $27.71 billion. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%. The business’s quarterly revenue was up 78.4% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. Analysts predict that Energy Transfer LP will post 1.73 earnings per share for the current fiscal year.
Energy Transfer Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Friday, November 6th will be issued a $0.3425 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.37 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Friday, November 6th. Energy Transfer’s dividend payout ratio is currently 92.52%.
Insider Buying and Selling
In other Energy Transfer news, Director James Perry bought 12,359 shares of Energy Transfer stock in a transaction on Friday, August 7th. The stock was purchased at an average cost of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the purchase, the director directly owned 208,046 shares of the company’s stock, valued at $4,208,770.58. The trade was a 6.32% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kelcy L. Warren bought 647,968 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was acquired at an average cost of $21.26 per share, with a total value of $13,775,799.68. Following the completion of the transaction, the director directly owned 147,901,879 shares of the company’s stock, valued at approximately $3,144,393,947.54. This represents a 0.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 1,012,359 shares of company stock worth $21,513,543 in the last 90 days. 3.28% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on ET shares. JPMorgan Chase & Co. boosted their price objective on shares of Energy Transfer from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, September 4th. Jefferies Financial Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Energy Transfer from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, September 8th. Zacks Research lowered shares of Energy Transfer from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Mizuho set a $26.00 target price on shares of Energy Transfer in a research note on Tuesday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.60.
Get Our Latest Stock Analysis on Energy Transfer
About Energy Transfer
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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