Mayflower Financial Advisors LLC Raises Position in Energy Transfer LP $ET

Mayflower Financial Advisors LLC grew its position in Energy Transfer LP (NYSE:ET) by 5.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 17,135 shares of the pipeline company’s stock after buying an additional 899 shares during the period. Mayflower Financial Advisors LLC’s holdings in Energy Transfer were worth $311,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ET. Ryan Investment Management Inc. purchased a new position in Energy Transfer in the second quarter worth about $31,000. Vision Financial Markets LLC purchased a new position in Energy Transfer in the first quarter worth about $33,000. CNB Bank raised its holdings in Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after buying an additional 1,000 shares during the last quarter. Stone House Investment Management LLC purchased a new position in Energy Transfer in the first quarter worth about $38,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Energy Transfer in the first quarter worth approximately $40,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on ET. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Cowen began coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating for the company. UBS Group reiterated a “buy” rating and issued a $22.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. Scotiabank began 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. Finally, 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. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.23.

Insider Buying and Selling at Energy Transfer

In other news, Director Kelcy L. Warren purchased 1,350,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was acquired at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the transaction, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.28% of the stock is currently owned by insiders.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $16.91 on Thursday. The firm has a 50 day moving average of $17.15 and a 200 day moving average of $17.43. 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 firm has a market capitalization of $58.03 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.01 and a beta of 0.78. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The company 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%. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 earnings per share. On average, research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Friday, November 7th will be given a dividend of $0.3325 per share. This represents a $1.33 annualized dividend and a yield of 7.9%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, November 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 102.33%.

Energy Transfer Company 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.