Energy Transfer LP $ET Shares Purchased by Cornerstone Select Advisors LLC

Cornerstone Select Advisors LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 34.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 14,814 shares of the pipeline company’s stock after purchasing an additional 3,794 shares during the quarter. Cornerstone Select Advisors LLC’s holdings in Energy Transfer were worth $269,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ET. Quantum Private Wealth LLC increased its holdings in shares of Energy Transfer by 0.5% in the 2nd quarter. Quantum Private Wealth LLC now owns 116,515 shares of the pipeline company’s stock valued at $2,112,000 after acquiring an additional 627 shares during the last quarter. Private Management Group Inc. purchased a new position in Energy Transfer in the second quarter valued at approximately $7,282,000. Bahl & Gaynor Inc. raised its holdings in Energy Transfer by 3.6% during the second quarter. Bahl & Gaynor Inc. now owns 277,929 shares of the pipeline company’s stock worth $5,039,000 after purchasing an additional 9,776 shares in the last quarter. AlphaCore Capital LLC lifted its position in shares of Energy Transfer by 34.2% during the 2nd quarter. AlphaCore Capital LLC now owns 13,616 shares of the pipeline company’s stock worth $247,000 after buying an additional 3,473 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Energy Transfer by 2.6% in the 2nd quarter. Franklin Resources Inc. now owns 161,433 shares of the pipeline company’s stock valued at $2,927,000 after buying an additional 4,084 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Jefferies Financial Group set a $17.00 price target on shares of Energy Transfer and gave the stock a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Wells Fargo & Company reissued an “overweight” rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. UBS Group restated a “buy” rating and set a $22.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. Finally, Barclays reaffirmed an “overweight” rating and set a $25.00 price target on shares of Energy Transfer in a research report on Wednesday, October 15th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.08.

Energy Transfer Stock Performance

NYSE ET opened at $16.52 on Friday. The firm has a market cap of $56.72 billion, a P/E ratio of 12.81, a P/E/G ratio of 1.01 and a beta of 0.76. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The business’s 50-day moving average price is $16.90 and its 200 day moving average price is $17.41. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The company had revenue of $19.95 billion for the quarter, compared to analyst estimates of $21.84 billion. During the same period in the previous year, the business posted $0.32 earnings per share. The firm’s revenue was down 3.9% compared to the same quarter last year. On average, equities research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were given a $0.3325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, November 7th. This represents a $1.33 dividend on an annualized basis and a yield of 8.1%. Energy Transfer’s payout ratio is 106.40%.

Insider Transactions at Energy Transfer

In other news, Director Kelcy L. Warren acquired 1,000,000 shares of the business’s 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 in the company, valued at $1,772,593,760.85. This represents a 0.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.