Cambridge Investment Research Advisors Inc. Boosts Position in Energy Transfer LP (NYSE:ET)

Cambridge Investment Research Advisors Inc. grew its position in Energy Transfer LP (NYSE:ET) by 6.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,342,953 shares of the pipeline company’s stock after buying an additional 80,506 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Energy Transfer were worth $21,783,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in Energy Transfer by 12.1% during the 4th quarter. International Assets Investment Management LLC now owns 272,243 shares of the pipeline company’s stock valued at $3,757,000 after buying an additional 29,483 shares during the last quarter. Bahl & Gaynor Inc. boosted its stake in shares of Energy Transfer by 0.3% during the fourth quarter. Bahl & Gaynor Inc. now owns 228,569 shares of the pipeline company’s stock valued at $3,154,000 after acquiring an additional 769 shares during the last quarter. Kovack Advisors Inc. increased its position in Energy Transfer by 8.2% during the 4th quarter. Kovack Advisors Inc. now owns 83,420 shares of the pipeline company’s stock worth $1,151,000 after purchasing an additional 6,346 shares in the last quarter. Truist Financial Corp increased its position in Energy Transfer by 0.4% during the 4th quarter. Truist Financial Corp now owns 925,211 shares of the pipeline company’s stock worth $12,768,000 after purchasing an additional 3,278 shares in the last quarter. Finally, Transcend Capital Advisors LLC raised its position in shares of Energy Transfer by 11.3% in the fourth quarter. Transcend Capital Advisors LLC now owns 77,731 shares of the pipeline company’s stock valued at $1,073,000 after buying an additional 7,887 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Down 1.2 %

Shares of NYSE ET traded down $0.20 during midday trading on Tuesday, reaching $15.91. 8,865,337 shares of the company’s stock were exchanged, compared to its average volume of 13,519,912. The stock has a market capitalization of $53.62 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 0.42 and a beta of 1.66. Energy Transfer LP has a 52-week low of $12.90 and a 52-week high of $16.50. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The business’s fifty day moving average price is $16.08 and its two-hundred day moving average price is $15.64.

Energy Transfer (NYSE:ET) last released its quarterly earnings results 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). The company 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 12.22% and a net margin of 4.85%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS. Analysts forecast that Energy Transfer LP will post 1.49 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a dividend of $0.32 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. This represents a $1.28 annualized dividend and a dividend yield of 8.05%. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Morgan Stanley increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Stifel Nicolaus lifted their price objective on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. 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 report on Tuesday, June 18th. Finally, UBS Group increased their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $19.29.

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.