HRT Financial LP Has $33.96 Million Stock Position in Energy Transfer LP $ET

HRT Financial LP lifted its position in shares of Energy Transfer LP (NYSE:ET) by 61.3% in the second quarter, HoldingsChannel reports. The fund owned 1,873,174 shares of the pipeline company’s stock after buying an additional 711,855 shares during the period. HRT Financial LP’s holdings in Energy Transfer were worth $33,960,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after purchasing an additional 11,844 shares during the period. Charles Schwab Investment Management Inc. bought a new stake in shares of Energy Transfer during the first quarter worth approximately $204,000. Nuveen LLC acquired a new position in Energy Transfer in the first quarter valued at approximately $44,876,000. Boston Partners bought a new position in Energy Transfer in the first quarter valued at approximately $6,654,000. Finally, Tyler Stone Wealth Management boosted its stake in Energy Transfer by 7.1% in the first quarter. Tyler Stone Wealth Management now owns 36,737 shares of the pipeline company’s stock valued at $683,000 after acquiring an additional 2,421 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Up 0.9%

NYSE ET opened at $16.56 on Friday. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.41 and a quick ratio of 1.14. The firm has a market cap of $56.86 billion, a P/E ratio of 13.25, a P/E/G ratio of 0.99 and a beta of 0.65. The stock’s 50-day moving average is $16.69 and its 200-day moving average is $17.29.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (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%.Energy Transfer’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 earnings per share. Sell-side analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Jefferies Financial Group set a $17.00 price target on Energy Transfer and gave the company a “hold” rating in a research note on Tuesday, October 28th. Scotiabank dropped their price objective on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a report on Thursday, November 13th. Barclays restated an “overweight” rating and set a $25.00 target price on shares of Energy Transfer in a report on Wednesday, October 15th. JPMorgan Chase & Co. lowered their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.62.

Insider Transactions at Energy Transfer

In other news, Director Kelcy L. Warren bought 1,000,000 shares of the stock in a transaction on Wednesday, November 19th. The stock was purchased at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the acquisition, the director owned 104,577,803 shares in the company, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 3.28% of the company’s stock.

Energy Transfer 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.