Energy Transfer LP $ET Shares Acquired by Centaurus Financial Inc.

Centaurus Financial Inc. increased its position in shares of Energy Transfer LP (NYSE:ET) by 173.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,727 shares of the pipeline company’s stock after buying an additional 25,847 shares during the quarter. Centaurus Financial Inc.’s holdings in Energy Transfer were worth $779,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Basepoint Wealth LLC acquired a new position in shares of Energy Transfer in the 4th quarter valued at $25,000. Osbon Capital Management LLC purchased a new position in shares of Energy Transfer during the 2nd quarter worth $25,000. Gables Capital Management Inc. increased its position in shares of Energy Transfer by 60.0% during the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 600 shares during the last quarter. Sarver Vrooman Wealth Advisors acquired a new stake in shares of Energy Transfer during the 4th quarter worth about $32,000. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in Energy Transfer in the 1st quarter valued at about $35,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $21.30 on Friday. The business has a 50-day moving average of $20.22 and a 200 day moving average of $19.52. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $21.64. The stock has a market capitalization of $73.34 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 0.75 and a beta of 0.55. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.21. The company had revenue of $34.33 billion for the quarter, compared to analyst estimates of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The business’s revenue for the quarter was up 78.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.66 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.4%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, August 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 92.52%.

Insider Activity at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 647,968 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were purchased at an average cost of $21.26 per share, with a total value of $13,775,799.68. Following the purchase, the director directly owned 147,901,879 shares in the company, valued at approximately $3,144,393,947.54. This represents a 0.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James Richard Perry bought 12,359 shares of Energy Transfer stock in a transaction on Friday, August 7th. The shares were acquired at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the acquisition, the director owned 208,046 shares in the company, valued at $4,208,770.58. This represents a 6.32% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 1,012,359 shares of company stock worth $21,513,543. 3.28% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen raised shares of Energy Transfer from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Truist Financial boosted their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Jefferies Financial Group restated a “buy” rating on shares of Energy Transfer in a report on Wednesday, August 5th. Weiss Ratings cut shares of Energy Transfer from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.08.

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.