Energy Transfer LP $ET Shares Newly Acquired by N10 Wealth LLC

N10 Wealth LLC purchased a new position in Energy Transfer LP (NYSEAMERICAN:ET) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 40,000 shares of the pipeline company’s stock, valued at approximately $791,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ET. Signal Advisors Wealth LLC boosted its holdings in shares of Energy Transfer by 13.3% during the 3rd quarter. Signal Advisors Wealth LLC now owns 32,714 shares of the pipeline company’s stock worth $647,000 after purchasing an additional 3,832 shares during the last quarter. Ulrich Consultants & Investment Group LLC purchased a new stake in shares of Energy Transfer in the third quarter valued at approximately $1,007,000. Fermata Advisors LLC increased its holdings in shares of Energy Transfer by 5.2% in the third quarter. Fermata Advisors LLC now owns 27,451 shares of the pipeline company’s stock valued at $543,000 after purchasing an additional 1,350 shares during the last quarter. Oak Grove Capital LLC increased its holdings in shares of Energy Transfer by 5.4% in the third quarter. Oak Grove Capital LLC now owns 943,209 shares of the pipeline company’s stock valued at $18,647,000 after purchasing an additional 48,500 shares during the last quarter. Finally, GK Wealth Management LLC acquired a new stake in shares of Energy Transfer in the third quarter valued at approximately $59,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director James Perry bought 12,359 shares of the business’s stock in a transaction on Friday, August 7th. The stock was bought at an average price of $20.23 per share, with a total value of $250,022.57. Following the completion of the purchase, the director directly owned 208,046 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kelcy Warren bought 647,968 shares of Energy Transfer stock in a transaction on Wednesday, August 19th. The stock was acquired at an average price of $21.26 per share, for a total transaction of $13,775,799.68. Following the transaction, the director directly owned 147,901,879 shares of the company’s stock, valued at approximately $3,144,393,947.54. This trade represents a 0.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 1,012,359 shares of company stock valued at $21,513,543. 3.28% of the stock is owned by insiders.

Energy Transfer Trading Down 0.8%

Shares of Energy Transfer stock traded down $0.15 during mid-day trading on Wednesday, hitting $20.32. The stock had a trading volume of 3,647,737 shares, compared to its average volume of 12,298,712. The firm has a 50-day moving average of $20.91 and a two-hundred day moving average of $20.02. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $21.84. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. The firm has a market cap of $69.99 billion, a P/E ratio of 13.83 and a beta of 0.60.

Energy Transfer (NYSEAMERICAN:ET) last released its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.38 by $0.21. The firm had revenue of $34.33 billion for the quarter, compared to analyst estimates of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The business’s revenue for the quarter was up 78.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 EPS. Sell-side analysts forecast that Energy Transfer LP will post 1.73 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 6.7%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.3375. The ex-dividend date of this dividend was Friday, August 7th. Energy Transfer’s payout ratio is 92.52%.

Analyst Upgrades and Downgrades

ET has been the topic of a number of analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Wednesday, August 5th. TD Cowen restated a “buy” rating and issued a $25.00 target price (up from $24.00) on shares of Energy Transfer in a report on Monday, August 10th. Wall Street Zen raised Energy Transfer from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Citigroup reaffirmed a “buy” rating and issued a $24.00 target price (up from $23.00) on shares of Energy Transfer in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. lifted their price target on Energy Transfer from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $24.60.

Energy Transfer Company Profile

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.