Energy Transfer LP $ET Shares Purchased by Oxbow Advisors LLC

Oxbow Advisors LLC grew its stake in shares of Energy Transfer LP (NYSE:ET) by 3.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 491,544 shares of the pipeline company’s stock after acquiring an additional 16,677 shares during the quarter. Energy Transfer accounts for 1.0% of Oxbow Advisors LLC’s portfolio, making the stock its 21st largest position. Oxbow Advisors LLC’s holdings in Energy Transfer were worth $8,912,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ET. Chelsea Counsel Co. lifted its stake in shares of Energy Transfer by 370.3% during the second quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company’s stock valued at $1,705,000 after buying an additional 74,050 shares during the period. Prevail Innovative Wealth Advisors LLC lifted its stake in shares of Energy Transfer by 316.9% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company’s stock worth $2,181,000 after purchasing an additional 89,173 shares during the period. Highland Capital Management LLC acquired a new stake in shares of Energy Transfer during the second quarter worth $930,000. Northern Trust Corp increased its stake in Energy Transfer by 223.5% in the first quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company’s stock valued at $19,883,000 after purchasing an additional 738,885 shares during the last quarter. Finally, Appaloosa LP lifted its position in Energy Transfer by 0.9% during the first quarter. Appaloosa LP now owns 4,957,235 shares of the pipeline company’s stock worth $92,155,000 after buying an additional 42,500 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ET shares. Scotiabank assumed coverage on shares of Energy Transfer in a report on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price objective on the stock. Barclays reiterated an “overweight” rating and issued a $25.00 price target on shares of Energy Transfer in a report on Wednesday. Morgan Stanley dropped their price objective on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Wells Fargo & Company reiterated an “overweight” rating and issued a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Finally, Cowen started coverage on Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating for the company. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.67.

Insider Buying and Selling

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were bought at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the transaction, the director directly owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $16.67 on Friday. The business’s 50-day simple moving average is $17.25 and its 200 day simple moving average is $17.41. The company has a market cap of $57.22 billion, a P/E ratio of 12.92, a PEG ratio of 1.00 and a beta of 0.78. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The business’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 earnings per share. On average, sell-side analysts forecast 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. Stockholders of record on Friday, August 8th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.9%. Energy Transfer’s dividend payout ratio is presently 102.33%.

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.