Energy Transfer LP (NYSE:ET) Shares Bought by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. grew its stake in Energy Transfer LP (NYSE:ET) by 25.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 85,521 shares of the pipeline company’s stock after buying an additional 17,147 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Energy Transfer were worth $1,387,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ET. Aveo Capital Partners LLC grew its stake in shares of Energy Transfer by 1.3% during the 4th quarter. Aveo Capital Partners LLC now owns 133,559 shares of the pipeline company’s stock worth $1,843,000 after purchasing an additional 1,663 shares during the period. 9258 Wealth Management LLC purchased a new position in Energy Transfer in the fourth quarter valued at $645,000. Massachusetts Financial Services Co. MA purchased a new position in Energy Transfer in the fourth quarter valued at $1,368,000. Janney Montgomery Scott LLC raised its position in shares of Energy Transfer by 11.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 478,966 shares of the pipeline company’s stock worth $6,610,000 after acquiring an additional 48,487 shares during the period. Finally, Level Four Advisory Services LLC boosted its stake in shares of Energy Transfer by 6.6% during the 4th quarter. Level Four Advisory Services LLC now owns 61,607 shares of the pipeline company’s stock worth $850,000 after acquiring an additional 3,804 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Morgan Stanley increased their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Finally, Mizuho lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $19.29.

Insider Transactions at Energy Transfer

In related news, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Gregory G. Mcilwain bought 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the acquisition, the director now directly owns 123,385,650 shares in the company, valued at $1,934,686,992. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,040,000 shares of company stock worth $47,667,200 in the last ninety days. Insiders own 3.28% of the company’s stock.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $16.17 on Monday. The business’s 50 day moving average price is $16.06 and its 200-day moving average price is $15.79. Energy Transfer LP has a 1 year low of $12.90 and a 1 year high of $16.50. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The firm has a market capitalization of $55.34 billion, a PE ratio of 14.83, a P/E/G ratio of 0.46 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS. As a group, equities research analysts expect that Energy Transfer LP will post 1.4 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 7.92%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

About Energy Transfer

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.