27,714 Shares in Energy Transfer LP $ET Acquired by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. acquired a new position in shares of Energy Transfer LP (NYSE:ET) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 27,714 shares of the pipeline company’s stock, valued at approximately $530,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Arrow Investment Advisors LLC lifted its position in shares of Energy Transfer by 4.9% during the 2nd quarter. Arrow Investment Advisors LLC now owns 10,866 shares of the pipeline company’s stock worth $208,000 after buying an additional 505 shares during the last quarter. Argent Trust Co grew its position in Energy Transfer by 2.1% in the second quarter. Argent Trust Co now owns 26,035 shares of the pipeline company’s stock valued at $498,000 after acquiring an additional 529 shares during the last quarter. State of Wyoming grew its position in Energy Transfer by 2.5% in the second quarter. State of Wyoming now owns 22,822 shares of the pipeline company’s stock valued at $436,000 after acquiring an additional 548 shares during the last quarter. Keybank National Association OH raised its stake in 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 acquiring an additional 556 shares in the last quarter. Finally, Marks Wealth LLC raised its stake in Energy Transfer by 4.7% during the fourth quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock worth $207,000 after acquiring an additional 560 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Energy Transfer

In other news, Director James Richard Perry purchased 12,359 shares of the business’s stock in a transaction on Friday, August 7th. The shares were acquired 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 owned 208,046 shares of the company’s stock, valued at $4,208,770.58. The trade was a 6.32% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelcy L. Warren purchased 647,968 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were acquired at an average price of $21.26 per share, with a total value of $13,775,799.68. Following the completion of the acquisition, the director owned 147,901,879 shares in the company, valued at approximately $3,144,393,947.54. This trade represents a 0.44% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 1,012,359 shares of company stock worth $21,513,543. 3.28% of the stock is owned by company insiders.

Energy Transfer Stock Down 0.5%

Energy Transfer stock opened at $21.09 on Tuesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $21.64. The firm has a 50 day moving average price of $20.02 and a two-hundred day moving average price of $19.45. The firm has a market cap of $72.62 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 0.74 and a beta of 0.55.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The company had revenue of $34.33 billion for the quarter, compared to analyst estimates of $27.71 billion. During the same period in the prior year, the firm posted $0.32 EPS. The company’s quarterly revenue was up 78.4% on a year-over-year basis. Equities analysts predict that Energy Transfer LP will post 1.66 EPS for the current year.

Energy Transfer Increases Dividend

The company 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. The ex-dividend date was Friday, August 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.36 annualized dividend and a yield of 6.4%. Energy Transfer’s dividend payout ratio (DPR) is presently 92.52%.

Wall Street Analyst Weigh In

ET has been the subject of several research reports. Citigroup reissued a “buy” rating and issued a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research note on Friday, August 7th. Weiss Ratings raised shares of Energy Transfer from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, August 11th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Finally, TD Cowen reissued a “buy” rating and set a $25.00 price objective (up from $24.00) on shares of Energy Transfer in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.08.

Energy Transfer Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.