Oppenheimer & Co. Inc. Sells 49,016 Shares of Energy Transfer LP $ET

Oppenheimer & Co. Inc. cut its holdings in shares of Energy Transfer LP (NYSE:ET) by 11.5% in the second quarter, Holdings Channel reports. The institutional investor owned 378,328 shares of the pipeline company’s stock after selling 49,016 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Energy Transfer were worth $7,234,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of ET. Morgan Stanley grew its stake in shares of Energy Transfer by 41.6% in the fourth quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock worth $1,423,256,000 after acquiring an additional 25,366,594 shares during the last quarter. Alps Advisors Inc. raised its stake in Energy Transfer by 8.0% during the 4th quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock valued at $1,382,573,000 after purchasing an additional 6,192,066 shares during the last quarter. Invesco Ltd. raised its stake in Energy Transfer by 3.2% during the 3rd quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock valued at $992,923,000 after purchasing an additional 1,773,042 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its holdings in Energy Transfer by 0.3% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 38,675,828 shares of the pipeline company’s stock valued at $637,764,000 after purchasing an additional 103,245 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Energy Transfer by 5.7% in the 1st quarter. Bank of America Corp DE now owns 30,956,358 shares of the pipeline company’s stock valued at $597,458,000 after purchasing an additional 1,656,609 shares during the period. 38.22% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Energy Transfer news, Director James Richard Perry purchased 12,359 shares of the business’s stock in a transaction on Friday, August 7th. The stock was purchased at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the purchase, the director directly owned 208,046 shares in the company, valued at approximately $4,208,770.58. This trade represents a 6.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Trading Up 1.3%

Shares of ET stock opened at $21.02 on Friday. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $21.11. The stock has a market cap of $72.39 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 1.97 and a beta of 0.55. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. The firm has a fifty day moving average of $19.76 and a 200-day moving average of $19.32.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The business had revenue of $34.33 billion for the quarter, compared to analyst estimates of $27.71 billion. During the same period in the previous year, the business earned $0.32 EPS. The firm’s revenue was up 78.4% on a year-over-year basis. On average, equities research analysts forecast that Energy Transfer LP will post 1.57 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be paid a dividend of $0.34 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.36 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date is Friday, August 7th. Energy Transfer’s dividend payout ratio is 92.52%.

Key Headlines Impacting Energy Transfer

Here are the key news stories impacting Energy Transfer this week:

• Positive Sentiment: Income appeal remains a key support. An investor analysis argues that Energy Transfer’s distribution yield, now near 6.5%, remains attractive and that the payout appears dependable, reinforcing ET’s appeal as a high-income midstream investment. Energy Transfer’s Yield Just Climbed Near 6.5%. Here’s Why I’m Not Worried About the Payout.
• Positive Sentiment: AI-related power demand could create growth opportunities. Alpha Wealth Funds highlighted ET’s positioning to benefit from the expected surge in electricity consumption from artificial-intelligence infrastructure, potentially increasing demand for natural gas and related energy services. Energy Transfer Positions to Capitalize on the AI Power Surge
• Positive Sentiment: Analyst and insider signals are favorable. Truist Financial forecast strong potential price appreciation, while separate coverage said ET shares benefited from insider buying activity. These signals may strengthen investor confidence, although they do not guarantee future performance. Truist Financial Forecasts Strong Price Appreciation for Energy Transfer Stock Energy Transfer Stock Price Up on Insider Buying Activity
• Neutral Sentiment: Natural-gas prices moved higher. Warmer-weather forecasts helped lift natural-gas prices, which could improve industry sentiment. However, ET’s diversified, largely fee-based midstream model may limit the direct effect of commodity-price changes. Nat-Gas Prices Close Higher on Warm Forecasts
• Negative Sentiment: Zacks downgraded ET from “strong buy” to “hold.” The rating change is a modest headwind and may encourage some investors to take profits after the stock’s recent momentum. Zacks.com

Analyst Ratings Changes

Several research analysts have recently issued reports on ET shares. Morgan Stanley boosted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Weiss Ratings raised Energy Transfer from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Truist Financial upped their price target on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday. Finally, UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.92.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.