Tred Avon Family Wealth LLC Acquires New Position in Energy Transfer LP $ET

Tred Avon Family Wealth LLC bought a new position in Energy Transfer LP (NYSE:ET) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 52,036 shares of the pipeline company’s stock, valued at approximately $893,000.

A number of other hedge funds have also modified their holdings of the company. Kingstone Capital Partners Texas LLC bought a new stake in shares of Energy Transfer during the 2nd quarter valued at $168,917,000. Northside Capital Management LLC purchased a new stake in Energy Transfer in the 2nd quarter worth $34,231,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Energy Transfer by 9.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,353,476 shares of the pipeline company’s stock valued at $387,139,000 after acquiring an additional 1,825,391 shares during the period. Jump Financial LLC lifted its position in shares of Energy Transfer by 2,687.9% in the second quarter. Jump Financial LLC now owns 1,791,358 shares of the pipeline company’s stock valued at $32,477,000 after acquiring an additional 1,727,104 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its stake in shares of Energy Transfer by 223.7% in the second quarter. Corient Private Wealth LLC now owns 1,690,771 shares of the pipeline company’s stock worth $30,654,000 after acquiring an additional 1,168,440 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Down 0.7%

Shares of NYSE ET opened at $17.33 on Friday. The firm’s 50-day moving average price is $16.64 and its 200-day moving average price is $17.07. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $59.50 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 0.90 and a beta of 0.66. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.06). The company had revenue of $19.95 billion for the quarter, compared to the consensus estimate of $21.84 billion. Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The company’s revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. On average, equities research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were paid a dividend of $0.3325 per share. The ex-dividend date of this dividend was Friday, November 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 annualized dividend and a yield of 7.7%. Energy Transfer’s payout ratio is presently 106.40%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ET. JPMorgan Chase & Co. lowered their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. Morgan Stanley lowered their target price on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, December 2nd. Royal Bank Of Canada upgraded shares of Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Energy Transfer in a research note on Wednesday, December 24th. Finally, Jefferies Financial Group set a $17.00 price objective on Energy Transfer and gave the company a “hold” rating in a research report on Tuesday, October 28th. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

Insiders Place Their Bets

In other news, Director Kelcy L. Warren bought 1,000,000 shares of Energy Transfer stock in a transaction dated Wednesday, November 19th. The shares were acquired at an average price of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the purchase, the director owned 104,577,803 shares in the company, valued at $1,772,593,760.85. The trade was a 0.97% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.28% of the stock is owned by company insiders.

Energy Transfer Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.