Searle & CO. Acquires 2,500 Shares of Energy Transfer LP (NYSE:ET)

Searle & CO. raised its holdings in shares of Energy Transfer LP (NYSE:ET) by 10.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,344 shares of the pipeline company’s stock after purchasing an additional 2,500 shares during the quarter. Searle & CO.’s holdings in Energy Transfer were worth $423,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of ET. Tortoise Capital Advisors L.L.C. lifted its position in Energy Transfer by 12.7% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after purchasing an additional 4,141,715 shares during the last quarter. Natixis raised its stake in shares of Energy Transfer by 20.0% in the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after acquiring an additional 2,999,300 shares during the period. Payden & Rygel Investment Group purchased a new stake in shares of Energy Transfer in the first quarter valued at $20,164,000. Merewether Investment Management LP raised its stake in shares of Energy Transfer by 22.3% in the second quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock valued at $106,919,000 after acquiring an additional 1,200,501 shares during the period. Finally, Progeny 3 Inc. raised its stake in shares of Energy Transfer by 104.6% in the first quarter. Progeny 3 Inc. now owns 2,205,785 shares of the pipeline company’s stock valued at $34,697,000 after acquiring an additional 1,127,500 shares during the period. Institutional investors own 38.22% of the company’s stock.

Insider Buying and Selling at Energy Transfer

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

Analyst Ratings Changes

Several brokerages have recently weighed in on ET. Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Royal Bank of Canada increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, UBS Group increased their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, Energy Transfer currently has an average rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Price Performance

ET stock remained flat at $16.38 during trading on Wednesday. 1,944,677 shares of the company traded hands, compared to its average volume of 13,049,996. The stock has a market cap of $55.20 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a 52 week low of $12.90 and a 52 week high of $16.64. The firm has a 50-day moving average of $16.14 and a 200 day moving average of $15.95. 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 (NYSE:ET) last posted its quarterly 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 company 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 company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. Sell-side analysts forecast that Energy Transfer LP will post 1.35 earnings per share for the current 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 given a dividend of $0.32 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a yield of 7.81%. 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.