Jefferies Financial Group Inc. Purchases New Stake in Energy Transfer LP $ET

Jefferies Financial Group Inc. acquired a new position in shares of Energy Transfer LP (TXSE:ET) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 225,565 shares of the pipeline company’s stock, valued at approximately $4,459,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Osbon Capital Management LLC purchased a new position in shares of Energy Transfer during the second quarter worth approximately $25,000. Sawyer & Company Inc acquired a new position in shares of Energy Transfer during the 3rd quarter worth $30,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Energy Transfer in the 1st quarter worth approximately $35,000. Bullseye Investment Management LLC purchased a new position in shares of Energy Transfer in the second quarter valued at $42,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Energy Transfer in the second quarter valued at $42,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Activity

In other news, Director Kelcy Warren bought 647,968 shares of Energy Transfer stock in a transaction dated Wednesday, August 19th. The shares were acquired at an average cost of $21.26 per share, with a total value of $13,775,799.68. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.28% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of Energy Transfer from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, November 6th. Royal Bank Of Canada restated an “outperform” rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. Truist Financial raised their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Scotiabank cut their target price on shares of Energy Transfer from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research report on Tuesday. Finally, Weiss Ratings raised shares of Energy Transfer from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $24.73.

Energy Transfer Stock Down 0.2%

Shares of TXSE ET opened at $19.42 on Friday. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $21.84. The firm has a fifty day moving average of $20.43 and a 200-day moving average of $19.73. The stock has a market capitalization of $66.87 billion, a PE ratio of 13.21, a P/E/G ratio of 0.73 and a beta of 0.62. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45.

Energy Transfer (TXSE:ET) last posted its earnings results on Tuesday, November 3rd. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%. The business had revenue of $37.10 billion for the quarter, compared to analyst estimates of $30.98 billion. During the same period last year, the company posted $0.28 EPS. On average, analysts anticipate that Energy Transfer LP will post 1.73 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Friday, November 6th will be paid a dividend of $0.3425 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.37 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date is Friday, November 6th. Energy Transfer’s payout ratio is 90.13%.

Energy Transfer 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.