Kirr Marbach & Co. LLC IN Has $1.92 Million Stake in Energy Transfer LP $ET

Kirr Marbach & Co. LLC IN lessened its stake in Energy Transfer LP (NYSE:ET) by 3.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 105,878 shares of the pipeline company’s stock after selling 4,325 shares during the period. Kirr Marbach & Co. LLC IN’s holdings in Energy Transfer were worth $1,920,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Indiana Trust & Investment Management Co lifted its position in shares of Energy Transfer by 5.1% in the 1st quarter. Indiana Trust & Investment Management Co now owns 11,796 shares of the pipeline company’s stock worth $219,000 after acquiring an additional 576 shares during the period. Beam Wealth Advisors Inc. raised its stake in shares of Energy Transfer by 1.5% in the first quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company’s stock valued at $742,000 after purchasing an additional 585 shares in the last quarter. Morton Capital Management LLC CA lifted its position in Energy Transfer by 1.3% in the first quarter. Morton Capital Management LLC CA now owns 46,382 shares of the pipeline company’s stock worth $862,000 after purchasing an additional 593 shares during the period. MCF Advisors LLC boosted its stake in Energy Transfer by 7.2% during the second quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company’s stock worth $167,000 after buying an additional 616 shares in the last quarter. Finally, Veracity Capital LLC increased its holdings in Energy Transfer by 1.8% in the 2nd quarter. Veracity Capital LLC now owns 36,102 shares of the pipeline company’s stock valued at $655,000 after buying an additional 646 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ET. Wells Fargo & Company reaffirmed an “overweight” rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Cowen started coverage on Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating on the stock. Morgan Stanley decreased their price target on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. TD Cowen began coverage on Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating and a $22.00 price objective for the company. Finally, Scotiabank began coverage on shares of Energy Transfer in a report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 target price on the stock. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Insider Buying and Selling

In other news, Director Kelcy L. Warren bought 1,350,000 shares of the 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 purchase, the director owned 69,178,477 shares of the company’s stock, valued at approximately $1,200,938,360.72. This represents a 1.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.28% of the company’s stock.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $17.46 on Friday. The business has a fifty day moving average of $17.52 and a 200-day moving average of $17.60. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The firm has a market cap of $59.93 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.03 and a beta of 0.85.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $19.24 billion for the quarter, compared to the consensus estimate of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. On average, equities research analysts predict 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 Tuesday, August 19th. Shareholders of record on Friday, August 8th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.32 annualized dividend and a yield of 7.6%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is currently 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.