Energy Transfer LP $ET Shares Purchased by Oak Grove Capital LLC

Oak Grove Capital LLC grew its stake in Energy Transfer LP (NYSE:ET) by 5.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 943,209 shares of the pipeline company’s stock after purchasing an additional 48,500 shares during the quarter. Energy Transfer comprises approximately 0.8% of Oak Grove Capital LLC’s holdings, making the stock its 23rd largest holding. Oak Grove Capital LLC’s holdings in Energy Transfer were worth $18,647,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Osbon Capital Management LLC acquired a new position in Energy Transfer in the second quarter valued at about $25,000. Cassaday & Co Wealth Management LLC bought a new position in Energy Transfer during the first quarter worth about $35,000. Financial Life Planners acquired a new position in shares of Energy Transfer during the 1st quarter worth about $40,000. Bullseye Investment Management LLC acquired a new position in shares of Energy Transfer during the 2nd quarter worth about $42,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Energy Transfer in the 2nd quarter valued at about $42,000. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

Shares of ET opened at $20.41 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. The stock has a 50 day simple moving average of $20.91 and a 200 day simple moving average of $19.99. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $21.84. The firm has a market capitalization of $70.28 billion, a PE ratio of 13.88 and a beta of 0.60.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The firm had revenue of $34.33 billion for the quarter, compared to the consensus estimate of $27.71 billion. During the same period last year, the company posted $0.32 EPS. The business’s quarterly revenue was up 78.4% on a year-over-year basis. Sell-side analysts predict that Energy Transfer LP will post 1.73 EPS for the current fiscal year.

Energy Transfer Increases Dividend

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

Analyst Ratings Changes

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. Stifel Nicolaus began coverage on shares of Energy Transfer in a research note on Thursday, September 10th. They issued a “buy” rating and a $25.00 target price for the company. Capital One Financial initiated coverage on shares of Energy Transfer in a report on Tuesday, September 22nd. They issued an “overweight” rating and a $26.00 target price on the stock. Barclays reissued an “overweight” rating and set a $24.00 price target (up from $23.00) on shares of Energy Transfer in a research report on Wednesday, August 5th. Finally, Melius Research assumed coverage on shares of Energy Transfer in a report on Tuesday, September 22nd. They issued a “hold” rating and a $25.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.50.

Insiders Place Their Bets

In related news, Director James Perry bought 12,359 shares of Energy Transfer stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average cost of $20.23 per share, with a total value of $250,022.57. Following the purchase, the director owned 208,046 shares in the company, valued at approximately $4,208,770.58. This trade represents a 6.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kelcy L. Warren bought 647,968 shares of the stock in a transaction on Wednesday, August 19th. The shares were purchased at an average price of $21.26 per share, with a total value of $13,775,799.68. Following the acquisition, the director owned 147,901,879 shares in the company, valued at approximately $3,144,393,947.54. This represents a 0.44% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 1,012,359 shares of company stock worth $21,513,543. 3.28% of the stock is currently owned by company insiders.

About Energy Transfer

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.