Tidal Investments LLC Buys 583,196 Shares of Energy Transfer LP $ET

Tidal Investments LLC grew its stake in Energy Transfer LP (NYSE:ET) by 56.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,611,509 shares of the pipeline company’s stock after acquiring an additional 583,196 shares during the period. Tidal Investments LLC’s holdings in Energy Transfer were worth $30,812,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Morgan Stanley boosted its holdings in shares of Energy Transfer by 41.6% in the fourth quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock valued at $1,423,256,000 after purchasing an additional 25,366,594 shares during the period. Alps Advisors Inc. increased its holdings in Energy Transfer by 8.0% during the 4th quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock worth $1,382,573,000 after purchasing an additional 6,192,066 shares during the period. Mizuho Markets Americas LLC bought a new stake in Energy Transfer during the 1st quarter valued at $61,760,000. SCS Capital Management LLC raised its position in Energy Transfer by 1,859.8% during the 2nd quarter. SCS Capital Management LLC now owns 1,942,908 shares of the pipeline company’s stock valued at $37,148,000 after purchasing an additional 1,843,771 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Energy Transfer by 3.2% in the 3rd quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock worth $992,923,000 after buying an additional 1,773,042 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director James Perry acquired 12,359 shares of Energy Transfer stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the purchase, the director directly owned 208,046 shares in the company, valued at $4,208,770.58. The trade was a 6.32% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kelcy Warren bought 647,968 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were purchased at an average cost of $21.26 per share, with a total value of $13,775,799.68. Following the transaction, the director directly owned 147,901,879 shares of the company’s stock, valued at $3,144,393,947.54. The trade was a 0.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 1,012,359 shares of company stock worth $21,513,543. Insiders own 3.28% of the company’s stock.

Energy Transfer Trading Up 0.9%

Shares of NYSE:ET opened at $21.70 on Thursday. The company has a market capitalization of $74.70 billion, a PE ratio of 14.76, a P/E/G ratio of 0.73 and a beta of 0.57. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $21.77. The business’s fifty day simple moving average is $20.61 and its 200-day simple moving average is $19.70.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.21. The company had revenue of $34.33 billion for the quarter, compared to the consensus estimate of $27.71 billion. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The firm’s revenue for the quarter was up 78.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. As a group, equities research analysts predict that Energy Transfer LP will post 1.7 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend was Friday, August 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is presently 92.52%.

Analyst Ratings Changes

ET has been the topic of a number of recent research reports. 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. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, July 21st. Citigroup reiterated a “buy” rating and set a $24.00 target price (up from $23.00) on shares of Energy Transfer in a report on Friday, August 7th. Zacks Research downgraded shares of Energy Transfer from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Morgan Stanley boosted their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $24.17.

Energy Transfer Profile

Energy Transfer LP (NYSE: ET) is a diversified midstream energy partnership that owns and operates infrastructure used to transport, store, process and market energy commodities. Its assets support the movement of natural gas, crude oil, natural gas liquids (NGLs), refined products and other hydrocarbon-based materials.

The company’s operations include natural gas gathering and processing, interstate and intrastate pipeline transportation, NGL fractionation and storage, crude oil and refined products transportation, and terminal services.