11,596 Shares in Energy Transfer LP $ET Bought by Elser Financial Planning Inc

Elser Financial Planning Inc purchased a new stake in Energy Transfer LP (NYSE:ET) in the second quarter, Holdings Channel.com reports. The fund purchased 11,596 shares of the pipeline company’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its stake in shares of Energy Transfer by 12.9% during the 1st quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company’s stock worth $1,400,831,000 after acquiring an additional 8,613,645 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in Energy Transfer by 2.6% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 38,205,495 shares of the pipeline company’s stock valued at $710,240,000 after purchasing an additional 951,656 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its position in shares of Energy Transfer by 0.8% in the first quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company’s stock valued at $449,329,000 after buying an additional 182,705 shares in the last quarter. Energy Income Partners LLC raised its stake in shares of Energy Transfer by 12.0% during the 1st quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company’s stock worth $429,802,000 after buying an additional 2,471,401 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in shares of Energy Transfer by 2.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,787,080 shares of the pipeline company’s stock worth $312,072,000 after buying an additional 455,860 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Price Performance

ET opened at $17.46 on Monday. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. The company’s 50 day simple moving average is $17.52 and its 200 day simple moving average is $17.59. The stock has a market capitalization of $59.93 billion, a PE ratio of 13.53, a P/E/G ratio of 1.03 and a beta of 0.85.

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

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were given 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 of this dividend was Friday, August 8th. This represents a $1.32 dividend on an annualized basis and a yield of 7.6%. Energy Transfer’s dividend payout ratio is currently 102.33%.

Insider Buying and Selling

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the purchase, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.28% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.