Diversify Advisory Services LLC Acquires 47,587 Shares of Energy Transfer LP $ET

Diversify Advisory Services LLC increased its holdings in Energy Transfer LP (NYSE:ET) by 91.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,789 shares of the pipeline company’s stock after purchasing an additional 47,587 shares during the quarter. Diversify Advisory Services LLC’s holdings in Energy Transfer were worth $1,987,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Morgan Stanley grew its stake in shares of Energy Transfer by 41.6% during the fourth quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock valued at $1,423,256,000 after buying an additional 25,366,594 shares during the last quarter. Alps Advisors Inc. lifted its stake in shares of Energy Transfer by 8.0% in the 4th quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock valued at $1,382,573,000 after acquiring an additional 6,192,066 shares during the last quarter. Mizuho Markets Americas LLC purchased a new stake in Energy Transfer during the 1st quarter valued at about $61,760,000. SCS Capital Management LLC boosted its holdings in Energy Transfer by 1,859.8% during the 2nd quarter. SCS Capital Management LLC now owns 1,942,908 shares of the pipeline company’s stock valued at $37,148,000 after acquiring an additional 1,843,771 shares during the period. Finally, Invesco Ltd. boosted its holdings in Energy Transfer by 3.2% during the 3rd quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock valued at $992,923,000 after acquiring an additional 1,773,042 shares during the period. 38.22% of the stock is owned by institutional investors.

Insider Activity

In related news, Director James Richard Perry purchased 12,359 shares of Energy Transfer stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the transaction, the director directly owned 208,046 shares of the company’s stock, valued at $4,208,770.58. This represents a 6.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.28% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ET has been the topic of a number of analyst reports. Citigroup reaffirmed a “buy” rating and issued a $24.00 price target (up from $23.00) on shares of Energy Transfer in a research note on Friday, August 7th. Wall Street Zen raised Energy Transfer from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. Truist Financial lifted their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.08.

Energy Transfer Stock Performance

Shares of ET stock opened at $21.41 on Wednesday. The firm has a market capitalization of $73.74 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 0.75 and a beta of 0.55. The stock has a fifty day moving average of $19.84 and a 200 day moving average of $19.37. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $21.43. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The business had revenue of $34.33 billion for the quarter, compared to the consensus estimate of $27.71 billion. During the same period in the previous year, the firm earned $0.32 EPS. The company’s quarterly revenue was up 78.4% compared to the same quarter last year. As a group, research analysts expect that Energy Transfer LP will post 1.63 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be given a dividend of $0.34 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.36 annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Friday, August 7th. Energy Transfer’s dividend payout ratio is presently 92.52%.

Energy Transfer 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.