Energy Transfer LP $ET Shares Purchased by Consolidated Portfolio Review Corp

Consolidated Portfolio Review Corp boosted its holdings in Energy Transfer LP (NYSE:ET) by 4.5% during the second quarter, HoldingsChannel reports. The fund owned 35,915 shares of the pipeline company’s stock after buying an additional 1,552 shares during the period. Consolidated Portfolio Review Corp’s holdings in Energy Transfer were worth $651,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Alps Advisors Inc. lifted its holdings in Energy Transfer by 12.9% in the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company’s stock valued at $1,400,831,000 after acquiring an additional 8,613,645 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its position in Energy Transfer by 2.6% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 38,205,495 shares of the pipeline company’s stock valued at $710,240,000 after purchasing an additional 951,656 shares during the period. Kayne Anderson Capital Advisors LP raised its position in Energy Transfer by 0.8% in the first quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company’s stock valued at $449,329,000 after purchasing an additional 182,705 shares during the period. Energy Income Partners LLC raised its position in Energy Transfer by 12.0% in the first quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company’s stock valued at $429,802,000 after purchasing an additional 2,471,401 shares during the period. Finally, Westwood Holdings Group Inc. raised its position in Energy Transfer by 2.8% in the first quarter. Westwood Holdings Group Inc. now owns 16,787,080 shares of the pipeline company’s stock valued at $312,072,000 after purchasing an additional 455,860 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ET has been the topic of a number of research analyst reports. Scotiabank initiated coverage on Energy Transfer in a research report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 target price on the stock. Wells Fargo & Company reissued an “overweight” rating and issued a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Cowen initiated coverage on Energy Transfer in a research report on Monday, July 7th. They issued a “buy” rating on the stock. Morgan Stanley cut their target price on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Finally, TD Cowen initiated coverage on Energy Transfer in a research report on Monday, July 7th. They issued a “buy” rating and a $22.00 target price on the stock. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Energy Transfer Stock Down 1.0%

Energy Transfer stock opened at $17.00 on Thursday. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The stock’s fifty day simple moving average is $17.51 and its 200-day simple moving average is $17.57. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $58.34 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.01 and a beta of 0.78.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. During the same quarter in the prior year, the company earned $0.35 earnings per share. The company’s revenue was down 7.2% on a year-over-year basis. As a group, equities analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 7.8%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 8th. Energy Transfer’s dividend payout ratio is currently 102.33%.

Insider Buying and Selling

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the company’s stock in a transaction that occurred 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 completion of the acquisition, the director directly owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. This represents a 1.99% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.28% of the stock is owned by company insiders.

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.