Mattern Wealth Management LLC Raises Stake in Energy Transfer LP (NYSE:ET)

Mattern Wealth Management LLC boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 10.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,688 shares of the pipeline company’s stock after buying an additional 3,700 shares during the quarter. Mattern Wealth Management LLC’s holdings in Energy Transfer were worth $637,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. &PARTNERS acquired a new position in shares of Energy Transfer in the 1st quarter valued at about $159,000. Global Assets Advisory LLC purchased a new stake in Energy Transfer in the 1st quarter worth approximately $204,000. Dynamic Advisor Solutions LLC grew its stake in shares of Energy Transfer by 7.0% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 113,824 shares of the pipeline company’s stock worth $1,790,000 after purchasing an additional 7,496 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Energy Transfer by 30.5% in the 1st quarter. Sound Income Strategies LLC now owns 12,656 shares of the pipeline company’s stock valued at $199,000 after purchasing an additional 2,956 shares during the period. Finally, Disciplined Investments LLC lifted its stake in shares of Energy Transfer by 3.3% in the 1st quarter. Disciplined Investments LLC now owns 67,168 shares of the pipeline company’s stock valued at $1,057,000 after purchasing an additional 2,171 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren acquired 3,000,000 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the purchase, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the acquisition, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 3,040,000 shares of company stock worth $47,667,200. Insiders own 3.28% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Bank of America assumed coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. Royal Bank of Canada upped their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, UBS Group raised their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Buy” and an average target price of $20.00.

Energy Transfer Price Performance

Shares of NYSE ET traded up $0.01 during midday trading on Tuesday, hitting $16.41. The stock had a trading volume of 4,297,155 shares, compared to its average volume of 13,080,033. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The stock has a 50 day simple moving average of $16.12 and a 200-day simple moving average of $15.95. The company has a market capitalization of $55.30 billion, a PE ratio of 15.00, a P/E/G ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a 1 year low of $12.90 and a 1 year high of $16.64.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. During the same quarter in the previous year, the business posted $0.25 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, sell-side analysts expect that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 7.80%. The ex-dividend date was Friday, August 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 117.43%.

Energy Transfer 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.