Total Clarity Wealth Management Inc. Raises Stock Position in Energy Transfer LP (NYSE:ET)

Total Clarity Wealth Management Inc. boosted its position in Energy Transfer LP (NYSE:ET) by 14.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 19,333 shares of the pipeline company’s stock after purchasing an additional 2,377 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Energy Transfer were worth $314,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ET. First Reserve GP XIII Ltd purchased a new position in shares of Energy Transfer during the fourth quarter worth about $322,097,000. Tortoise Capital Advisors L.L.C. grew its stake in Energy Transfer by 12.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after buying an additional 4,141,715 shares in the last quarter. Clearbridge Investments LLC grew its stake in Energy Transfer by 18.5% in the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock worth $350,845,000 after buying an additional 3,976,676 shares in the last quarter. Natixis increased its holdings in shares of Energy Transfer by 20.0% in the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after buying an additional 2,999,300 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its position in shares of Energy Transfer by 117.3% during the 4th quarter. Allianz Asset Management GmbH now owns 3,867,998 shares of the pipeline company’s stock valued at $53,378,000 after buying an additional 2,088,356 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of the stock in a transaction on Friday, August 23rd. The stock was acquired 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 directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of Energy Transfer stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kelcy L. Warren bought 3,000,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The disclosure for this purchase can be found here. Insiders have acquired 3,040,000 shares of company stock valued at $47,667,200 over the last ninety days. 3.28% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ET shares. JPMorgan Chase & Co. upped 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 boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Finally, Morgan Stanley lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.29.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $16.17 on Tuesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. Energy Transfer LP has a one year low of $12.90 and a one year high of $16.50. The business’s 50 day simple moving average is $16.06 and its two-hundred day simple moving average is $15.80. The stock has a market capitalization of $54.49 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 0.46 and a beta of 1.66.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. 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 firm earned $0.25 earnings per share. Analysts forecast that Energy Transfer LP will post 1.4 EPS for the current year.

Energy Transfer Increases Dividend

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

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.