Energy Transfer LP $ET Shares Bought by Alps Advisors Inc.

Alps Advisors Inc. grew its stake in Energy Transfer LP (NYSE:ET) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 77,651,021 shares of the pipeline company’s stock after purchasing an additional 3,366,734 shares during the quarter. Energy Transfer makes up approximately 7.4% of Alps Advisors Inc.’s holdings, making the stock its 2nd biggest holding. Alps Advisors Inc.’s holdings in Energy Transfer were worth $1,332,492,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ET. Brighton Jones LLC increased its holdings in Energy Transfer by 93.4% in the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after buying an additional 11,844 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Energy Transfer by 62.8% during the 1st quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock worth $391,000 after buying an additional 8,118 shares during the last quarter. DAVENPORT & Co LLC grew its position in shares of Energy Transfer by 1.5% in the 2nd quarter. DAVENPORT & Co LLC now owns 110,838 shares of the pipeline company’s stock worth $2,009,000 after acquiring an additional 1,687 shares in the last quarter. Leo Wealth LLC acquired a new position in shares of Energy Transfer in the 2nd quarter worth approximately $746,000. Finally, Cyndeo Wealth Partners LLC increased its holdings in shares of Energy Transfer by 86.3% in the 2nd quarter. Cyndeo Wealth Partners LLC now owns 21,831 shares of the pipeline company’s stock valued at $396,000 after acquiring an additional 10,113 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Insiders Place Their Bets

In other Energy Transfer news, Director Kelcy L. Warren purchased 1,000,000 shares of Energy Transfer stock in a transaction on Wednesday, November 19th. The stock was bought at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the transaction, the director owned 104,577,803 shares of the company’s stock, valued at $1,772,593,760.85. The trade was a 0.97% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.28% of the stock is owned by insiders.

Energy Transfer Stock Down 1.5%

ET stock opened at $17.92 on Friday. The stock has a market cap of $61.53 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. The firm’s 50-day simple moving average is $17.06 and its 200 day simple moving average is $17.12. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $20.55. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.06). The firm had revenue of $19.95 billion during the quarter, compared to the consensus estimate of $21.84 billion. Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.Energy Transfer’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the company posted $0.32 EPS. As a group, sell-side analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Friday, February 6th will be given a $0.335 dividend. The ex-dividend date is Friday, February 6th. This represents a $1.34 annualized dividend and a yield of 7.5%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is 106.40%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Wednesday, January 7th. JPMorgan Chase & Co. dropped their target price on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. Barclays restated an “overweight” rating and issued a $22.00 price target (down from $25.00) on shares of Energy Transfer in a research report on Monday, January 12th. Jefferies Financial Group set a $17.00 price objective on shares of Energy Transfer and gave the company a “hold” rating in a research report on Tuesday, October 28th. Finally, Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research note on Friday, January 16th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.