Valeo Financial Advisors LLC Buys 32,405 Shares of Energy Transfer LP $ET

by · The Markets Daily

Valeo Financial Advisors LLC boosted its position in Energy Transfer LP (NYSE:ET – Free Report) by 17.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,331 shares of the pipeline company’s stock after buying an additional 32,405 shares during the period. Valeo Financial Advisors LLC’s holdings in Energy Transfer were worth $3,868,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ET. WT Wealth Management increased its holdings in shares of Energy Transfer by 8.8% during the second quarter. WT Wealth Management now owns 45,594 shares of the pipeline company’s stock valued at $827,000 after acquiring an additional 3,704 shares in the last quarter. FSC Wealth Advisors LLC acquired a new position in Energy Transfer during the second quarter worth $50,000. Silverlake Wealth Management LLC raised its holdings in Energy Transfer by 5.3% during the second quarter. Silverlake Wealth Management LLC now owns 113,219 shares of the pipeline company’s stock worth $2,053,000 after buying an additional 5,665 shares during the last quarter. Pathway Financial Advisers LLC lifted its stake in shares of Energy Transfer by 11.9% in the second quarter. Pathway Financial Advisers LLC now owns 108,673 shares of the pipeline company’s stock valued at $1,970,000 after buying an additional 11,554 shares in the last quarter. Finally, Thompson Davis & CO. Inc. grew its holdings in shares of Energy Transfer by 108.4% during the second quarter. Thompson Davis & CO. Inc. now owns 21,877 shares of the pipeline company’s stock valued at $397,000 after buying an additional 11,377 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

ET stock opened at $16.56 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 1.50. The firm has a market cap of $56.86 billion, a PE ratio of 13.25, a P/E/G ratio of 1.00 and a beta of 0.65. The business has a 50 day moving average of $16.69 and a 200-day moving average of $17.29. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45.

Energy Transfer (NYSE:ET – Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The business had revenue of $19.95 billion for the quarter, compared to the consensus estimate of $21.84 billion. Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The business’s revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 earnings per share. As a group, sell-side analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were issued a $0.3325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 8.0%. Energy Transfer’s payout ratio is presently 106.40%.

Analysts Set New Price Targets

A number of research firms recently weighed in on ET. UBS Group restated a “buy” rating and issued a $22.00 target price on shares of Energy Transfer in a report on Wednesday, October 15th. Morgan Stanley lowered their price objective on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, December 2nd. JPMorgan Chase & Co. cut their target price on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Monday, November 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. Finally, Scotiabank dropped their price objective on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a research note on Thursday, November 13th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.62.

Check Out Our Latest Stock Report on ET

Insiders Place Their Bets

In related news, Director Kelcy L. Warren acquired 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the acquisition, the director owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. This represents a 0.97% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.28% of the company’s stock.

Energy Transfer Profile

(Free Report)

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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