Energy Transfer LP $ET Shares Bought by Lee Financial Co

Lee Financial Co lifted its holdings in Energy Transfer LP (NYSE:ET) by 359.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,817 shares of the pipeline company’s stock after purchasing an additional 151,657 shares during the period. Energy Transfer comprises 0.4% of Lee Financial Co’s holdings, making the stock its 24th biggest holding. Lee Financial Co’s holdings in Energy Transfer were worth $3,326,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ET. CNB Bank increased its holdings in shares of Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after buying an additional 1,000 shares in the last quarter. HHM Wealth Advisors LLC grew its holdings in shares of Energy Transfer by 54.4% in the 2nd quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 800 shares during the last quarter. Core Alternative Capital acquired a new stake in shares of Energy Transfer during the third quarter worth $46,000. FSC Wealth Advisors LLC purchased a new stake in shares of Energy Transfer during the second quarter valued at $50,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Energy Transfer by 38.9% during the third quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock valued at $50,000 after purchasing an additional 817 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Performance

Shares of ET opened at $18.42 on Friday. The company has a market capitalization of $63.24 billion, a PE ratio of 14.74, a PEG ratio of 0.97 and a beta of 0.66. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.14 and a current ratio of 1.41. The company’s 50 day moving average price is $16.88 and its 200 day moving average price is $17.09. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.16.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The company had revenue of $19.95 billion for the quarter, compared to analyst estimates of $21.84 billion. During the same period last year, the business earned $0.32 EPS. The company’s quarterly revenue was down 3.9% on a year-over-year basis. Research analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Friday, February 6th will be given a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend is Friday, February 6th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is currently 106.40%.

Analyst Ratings Changes

Several analysts have issued reports on ET shares. Weiss Ratings restated a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. Barclays reissued an “overweight” rating and issued a $22.00 target price (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 target on shares of Energy Transfer and gave the company a “hold” rating in a research report on Tuesday, October 28th. Royal Bank Of Canada raised shares of Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th. Finally, Morgan Stanley cut their target price on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 2nd. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target of $21.50.

Insider Buying and Selling at Energy Transfer

In other news, Director Kelcy L. Warren purchased 1,000,000 shares of Energy Transfer stock in a transaction dated Wednesday, November 19th. The stock was acquired at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the acquisition, the director directly owned 104,577,803 shares in the company, valued at $1,772,593,760.85. This represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.28% of the stock is owned by company 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.