Energy Transfer LP $ET Position Boosted by NEOS Investment Management LLC

NEOS Investment Management LLC lifted its holdings in Energy Transfer LP (NYSE:ET) by 47.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,584,634 shares of the pipeline company’s stock after purchasing an additional 513,387 shares during the period. NEOS Investment Management LLC’s holdings in Energy Transfer were worth $30,298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arrow Investment Advisors LLC boosted its holdings in Energy Transfer by 4.9% during the second quarter. Arrow Investment Advisors LLC now owns 10,866 shares of the pipeline company’s stock worth $208,000 after buying an additional 505 shares in the last quarter. Argent Trust Co increased its holdings in shares of Energy Transfer by 2.1% in the second quarter. Argent Trust Co now owns 26,035 shares of the pipeline company’s stock valued at $498,000 after buying an additional 529 shares in the last quarter. State of Wyoming lifted its position in shares of Energy Transfer by 2.5% during the 2nd quarter. State of Wyoming now owns 22,822 shares of the pipeline company’s stock valued at $436,000 after acquiring an additional 548 shares during the last quarter. Keybank National Association OH lifted its position in shares of Energy Transfer by 0.3% during the 1st quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock valued at $4,231,000 after acquiring an additional 556 shares during the last quarter. Finally, Cascade Financial Partners LLC boosted its stake in shares of Energy Transfer by 0.8% during the 2nd quarter. Cascade Financial Partners LLC now owns 72,645 shares of the pipeline company’s stock worth $1,389,000 after acquiring an additional 560 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Insider Transactions at Energy Transfer

In other news, Director Kelcy L. Warren purchased 647,968 shares of Energy Transfer stock in a transaction dated Wednesday, August 19th. The stock was acquired at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the acquisition, the director directly owned 147,901,879 shares in the company, valued at $3,144,393,947.54. This represents a 0.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James Perry acquired 12,359 shares of the company’s stock in a transaction that occurred 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 acquisition, the director directly owned 208,046 shares of the company’s stock, valued at $4,208,770.58. The trade was a 6.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 1,012,359 shares of company stock worth $21,513,543 in the last 90 days. Corporate insiders own 3.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ET. Weiss Ratings cut Energy Transfer from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, August 25th. Morgan Stanley upped their target price on Energy Transfer from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday, August 18th. Wall Street Zen upgraded Energy Transfer from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Zacks Research cut Energy Transfer from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Barclays restated an “overweight” rating and set a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.17.

Energy Transfer Stock Performance

Shares of ET opened at $21.52 on Friday. The company has a market capitalization of $74.10 billion, a PE ratio of 14.64, a PEG ratio of 0.73 and a beta of 0.57. 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 company’s 50 day moving average price is $20.46 and its 200 day moving average price is $19.64. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $21.77.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The company had revenue of $34.33 billion during the quarter, compared to analyst estimates of $27.71 billion. During the same quarter last year, the business posted $0.32 EPS. The company’s revenue for the quarter was up 78.4% on a year-over-year basis. Research analysts expect that Energy Transfer LP will post 1.7 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 6.3%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, August 7th. Energy Transfer’s dividend payout ratio is presently 92.52%.

Energy Transfer 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.