Orion Capital Management LLC Takes Position in Energy Transfer LP $ET

Orion Capital Management LLC acquired a new stake in Energy Transfer LP (NYSE:ET) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,800 shares of the pipeline company’s stock, valued at approximately $164,000.

Other institutional investors have also modified their holdings of the company. Strong Tower Advisory Services bought a new stake in shares of Energy Transfer in the 1st quarter worth about $2,604,000. Prevail Innovative Wealth Advisors LLC lifted its holdings in shares of Energy Transfer by 316.9% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company’s stock worth $2,181,000 after acquiring an additional 89,173 shares during the last quarter. Jefferies Financial Group Inc. lifted its holdings in Energy Transfer by 125.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 469,227 shares of the pipeline company’s stock valued at $9,192,000 after buying an additional 260,700 shares in the last quarter. Commerce Bank bought a new stake in Energy Transfer during the 1st quarter valued at about $92,607,000. Finally, Alps Advisors Inc. lifted its holdings in Energy Transfer by 12.9% during the 1st quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company’s stock valued at $1,400,831,000 after buying an additional 8,613,645 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ET. Wells Fargo & Company reiterated an “overweight” rating and set a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. JPMorgan Chase & Co. decreased their target price on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. TD Cowen started coverage on Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating and a $22.00 target price for the company. Mizuho lifted their target price on Energy Transfer from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, May 20th. Finally, Cowen started coverage on Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating for the company. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.75.

Insider Activity at Energy Transfer

In related news, Director Kelcy L. Warren purchased 1,350,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the purchase, the director owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Richard Perry sold 1,369 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the transaction, the director owned 24,523 shares in the company, valued at $453,185.04. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.28% of the company’s stock.

Energy Transfer Trading Up 0.4%

ET opened at $17.5250 on Monday. The firm has a market cap of $60.16 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 0.92 and a beta of 0.83. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The stock has a fifty day moving average price of $17.67 and a 200-day moving average price of $17.87.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $19.24 billion during 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%. Energy Transfer’s revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 EPS. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were paid a dividend of $0.33 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, August 8th. This represents a $1.32 annualized dividend and a dividend yield of 7.5%. Energy Transfer’s dividend payout ratio (DPR) is presently 102.33%.

Energy Transfer 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.