XML Financial LLC Grows Stock Holdings in Energy Transfer LP $ET

XML Financial LLC raised its position in shares of Energy Transfer LP (NYSE:ET) by 5.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,543 shares of the pipeline company’s stock after buying an additional 2,000 shares during the quarter. XML Financial LLC’s holdings in Energy Transfer were worth $717,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ET. Brighton Jones LLC lifted its position in shares of Energy Transfer by 93.4% during the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after buying an additional 11,844 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Energy Transfer by 481.9% during the first quarter. AdvisorNet Financial Inc now owns 2,665 shares of the pipeline company’s stock valued at $50,000 after acquiring an additional 2,207 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Energy Transfer by 1,139.3% during the first quarter. GAMMA Investing LLC now owns 18,590 shares of the pipeline company’s stock valued at $346,000 after acquiring an additional 17,090 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Energy Transfer by 71.0% during the first quarter. Parallel Advisors LLC now owns 34,182 shares of the pipeline company’s stock valued at $635,000 after acquiring an additional 14,192 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of Energy Transfer during the first quarter valued at about $385,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company restated an “overweight” rating and set a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Morgan Stanley cut their price objective on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. 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 price objective on the stock. Cowen assumed coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a “buy” rating on the stock. Finally, Scotiabank assumed coverage on shares of Energy Transfer in a report on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price objective on the stock. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.50.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren acquired 1,350,000 shares of the company’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 directly owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.28% of the stock is owned by insiders.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $17.22 on Wednesday. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The company’s 50 day moving average is $17.52 and its 200 day moving average is $17.58. 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 $59.11 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.02 and a beta of 0.85.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate 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 in the prior year, the company earned $0.35 EPS. Energy Transfer’s quarterly revenue was down 7.2% on a year-over-year basis. On average, sell-side analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.7%. 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. Energy Transfer’s dividend payout ratio is 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.