SeedSafe Financial LLC Buys Shares of 24,124 Energy Transfer LP $ET

SeedSafe Financial LLC acquired a new position in shares of Energy Transfer LP (NYSE:ET) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 24,124 shares of the pipeline company’s stock, valued at approximately $461,000. Energy Transfer comprises about 0.3% of SeedSafe Financial LLC’s portfolio, making the stock its 29th largest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Osbon Capital Management LLC bought a new position in shares of Energy Transfer in the second quarter worth approximately $25,000. Basepoint Wealth LLC purchased a new position in shares of Energy Transfer during the fourth quarter valued at about $25,000. Gables Capital Management Inc. raised its position in shares of Energy Transfer by 60.0% in the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 600 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in Energy Transfer in the first quarter worth $35,000. Finally, Sarver Vrooman Wealth Advisors bought a new position in shares of Energy Transfer in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

ET stock opened at $21.52 on Friday. The company has a market capitalization of $74.10 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.73 and a beta of 0.57. The company’s fifty day moving average price is $20.46 and its 200-day moving average price is $19.64. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. Energy Transfer LP has a one year low of $16.18 and a one year high of $21.77.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.21. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The company 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 business earned $0.32 earnings per share. The firm’s revenue for the quarter was up 78.4% on a year-over-year basis. On average, equities analysts anticipate that Energy Transfer LP will post 1.7 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were issued a $0.34 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, August 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.3%. Energy Transfer’s payout ratio is presently 92.52%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Jefferies Financial Group reissued a “buy” rating on shares of Energy Transfer in a research report on Wednesday, August 5th. Royal Bank Of Canada reissued 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. Citigroup restated a “buy” rating and set a $24.00 price target (up from $23.00) on shares of Energy Transfer in a report on Friday, August 7th. TD Cowen reaffirmed a “buy” rating and issued a $25.00 target price (up from $24.00) on shares of Energy Transfer in a report on Monday, August 10th. Finally, Zacks Research cut shares of Energy Transfer from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.17.

Insider Activity at Energy Transfer

In related news, Director James Perry acquired 12,359 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were acquired at an average cost 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 in the company, valued at approximately $4,208,770.58. This trade represents a 6.32% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kelcy Warren purchased 647,968 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were bought at an average price of $21.26 per share, for a total transaction of $13,775,799.68. Following the acquisition, the director directly owned 147,901,879 shares in the company, valued at $3,144,393,947.54. This trade represents a 0.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 1,012,359 shares of company stock worth $21,513,543 over the last three months. 3.28% of the stock is currently owned by insiders.

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.