Oakworth Capital Inc. Purchases New Holdings in Energy Transfer LP $ET

Oakworth Capital Inc. purchased a new stake in Energy Transfer LP (NYSE:ET) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,867 shares of the pipeline company’s stock, valued at approximately $52,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. acquired a new position in Energy Transfer in the 2nd quarter valued at about $31,000. Vision Financial Markets LLC acquired a new position in Energy Transfer during the 1st quarter worth approximately $33,000. Stone House Investment Management LLC acquired a new position in Energy Transfer during the 1st quarter worth approximately $38,000. HWG Holdings LP acquired a new position in Energy Transfer during the 1st quarter worth approximately $38,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Energy Transfer during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren purchased 1,350,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was bought at an average cost 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 in the company, valued at $1,200,938,360.72. The trade was a 1.99% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Cowen assumed coverage on Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating on the stock. TD Cowen assumed coverage on Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating and a $22.00 target price on the stock. Scotiabank assumed coverage on Energy Transfer in a research report on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 target price on the stock. Wells Fargo & Company reiterated an “overweight” rating and set a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Finally, Morgan Stanley dropped 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. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.50.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $17.20 on Tuesday. The business’s 50 day simple moving average is $17.52 and its 200-day simple moving average is $17.58. The firm has a market capitalization of $59.04 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 1.03 and a beta of 0.85. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45.

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

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.7%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 8th. Energy Transfer’s payout ratio is presently 102.33%.

About Energy Transfer

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.