Aire Advisors LLC Purchases 1,882 Shares of Energy Transfer LP $ET
by Michael Walen · The Markets DailyAire Advisors LLC raised its stake in shares of Energy Transfer LP (NYSE:ET – Free Report) by 6.7% during the second quarter, Holdings Channel reports. The firm owned 29,934 shares of the pipeline company’s stock after buying an additional 1,882 shares during the period. Aire Advisors LLC’s holdings in Energy Transfer were worth $543,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. acquired a new stake in Energy Transfer during the second quarter valued at approximately $31,000. Vision Financial Markets LLC acquired a new stake in Energy Transfer during the first quarter valued at approximately $33,000. Stone House Investment Management LLC acquired a new stake in Energy Transfer during the first quarter valued at approximately $38,000. HWG Holdings LP acquired a new stake in Energy Transfer during the first quarter valued at approximately $38,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Energy Transfer during the first quarter valued at approximately $40,000. 38.22% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have weighed in on ET. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They set a “buy” rating on the stock. UBS Group reaffirmed a “buy” rating and set a $22.00 price objective on shares of Energy Transfer in a report on Wednesday. Morgan Stanley decreased their price objective on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Finally, Barclays reissued an “overweight” rating and issued a $25.00 target price on shares of Energy Transfer in a report on Wednesday. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $22.46.
Check Out Our Latest Stock Report on Energy Transfer
Insider Transactions at Energy Transfer
In other news, Director Kelcy L. Warren acquired 1,350,000 shares of Energy Transfer stock in a transaction on Wednesday, August 20th. The shares were purchased at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the acquisition, the director owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.28% of the company’s stock.
Energy Transfer Trading Up 2.1%
Shares of ET opened at $16.89 on Thursday. The stock has a fifty day moving average price of $17.27 and a two-hundred day moving average price of $17.42. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The company has a market cap of $57.96 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 0.97 and a beta of 0.78.
Energy Transfer (NYSE:ET – Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The firm had revenue of $19.24 billion during the quarter, compared to the consensus estimate of $24.07 billion. During the same quarter in the previous year, the company posted $0.35 EPS. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. Analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.
Energy Transfer Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.32 annualized dividend and a yield of 7.8%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is currently 102.33%.
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.
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