Venture Visionary Partners LLC Purchases 1,936 Shares of Energy Transfer LP $ET

Venture Visionary Partners LLC raised its position in shares of Energy Transfer LP (NYSE:ET) by 1.3% in the second quarter, Holdings Channel reports. The firm owned 146,807 shares of the pipeline company’s stock after acquiring an additional 1,936 shares during the quarter. Venture Visionary Partners LLC’s holdings in Energy Transfer were worth $2,662,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Elser Financial Planning Inc bought a new stake in Energy Transfer during the 2nd quarter valued at about $204,000. Oakworth Capital Inc. bought a new stake in Energy Transfer during the 2nd quarter valued at about $52,000. Archford Capital Strategies LLC increased its stake in Energy Transfer by 17.3% during the 2nd quarter. Archford Capital Strategies LLC now owns 40,713 shares of the pipeline company’s stock valued at $738,000 after purchasing an additional 6,000 shares in the last quarter. Covenant Asset Management LLC increased its stake in Energy Transfer by 4.8% during the 2nd quarter. Covenant Asset Management LLC now owns 33,233 shares of the pipeline company’s stock valued at $603,000 after purchasing an additional 1,507 shares in the last quarter. Finally, Walker Asset Management LLC increased its stake in Energy Transfer by 18.1% during the 2nd quarter. Walker Asset Management LLC now owns 13,723 shares of the pipeline company’s stock valued at $249,000 after purchasing an additional 2,101 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Performance

ET opened at $17.20 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The company has a market cap of $59.04 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.03 and a beta of 0.85. The company’s 50 day moving average is $17.52 and its 200 day moving average is $17.58. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The company 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 revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.35 earnings per share. On average, equities research analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.7%. Energy Transfer’s payout ratio is 102.33%.

Insider Activity

In other Energy Transfer news, Director Kelcy L. Warren acquired 1,350,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were bought at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the acquisition, the director owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This represents a 1.99% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.28% of the company’s stock.

Wall Street Analysts Forecast Growth

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