SL Advisors LLC Grows Stake in Energy Transfer LP $ET

SL Advisors LLC grew its holdings in shares of Energy Transfer LP (NYSE:ET) by 11.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 473,898 shares of the pipeline company’s stock after acquiring an additional 48,920 shares during the quarter. Energy Transfer comprises approximately 15.9% of SL Advisors LLC’s holdings, making the stock its largest position. SL Advisors LLC’s holdings in Energy Transfer were worth $9,061,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Texas Yale Capital Corp. raised its holdings in Energy Transfer by 6.1% during the fourth quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company’s stock worth $21,634,000 after purchasing an additional 75,700 shares in the last quarter. North Star Investment Management Corp. raised its stake in shares of Energy Transfer by 100.1% during the 4th quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company’s stock worth $2,664,000 after buying an additional 80,786 shares during the last quarter. Summit Securities Group LLC raised its position in Energy Transfer by 179.0% during the first quarter. Summit Securities Group LLC now owns 162,100 shares of the pipeline company’s stock worth $3,129,000 after acquiring an additional 104,000 shares during the last quarter. Mizuho Markets Americas LLC acquired a new position in shares of Energy Transfer during the 1st quarter worth approximately $61,760,000. Finally, Sanctuary Advisors LLC lifted its position in shares of Energy Transfer by 15.8% in the first quarter. Sanctuary Advisors LLC now owns 1,888,661 shares of the pipeline company’s stock valued at $36,451,000 after acquiring an additional 257,954 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Price Performance

Shares of NYSE ET opened at $20.93 on Thursday. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $20.96. The stock has a market cap of $72.07 billion, a P/E ratio of 14.24, a P/E/G ratio of 2.04 and a beta of 0.55. The firm’s 50-day simple moving average is $19.71 and its 200 day simple moving average is $19.28. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.38 by $0.21. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The firm had revenue of $34.33 billion for the quarter, compared to analysts’ expectations of $27.71 billion. During the same quarter in the previous year, the company earned $0.32 earnings per share. The firm’s quarterly revenue was up 78.4% compared to the same quarter last year. Equities analysts expect that Energy Transfer LP will post 1.52 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be given a $0.34 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, August 7th. This represents a $1.36 annualized dividend and a dividend yield of 6.5%. Energy Transfer’s payout ratio is currently 92.52%.

Insiders Place Their Bets

In other Energy Transfer news, Director James Richard Perry acquired 12,359 shares of Energy Transfer stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average cost of $20.23 per share, with a total value of $250,022.57. Following the purchase, the director owned 208,046 shares in the company, valued at approximately $4,208,770.58. The trade was a 6.32% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ET. Zacks Research upgraded shares of Energy Transfer from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. TD Cowen restated a “buy” rating and issued a $25.00 price target (up from $24.00) on shares of Energy Transfer in a report on Monday. JPMorgan Chase & Co. boosted their price objective on Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Stifel Nicolaus boosted their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average 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.