Energy Transfer LP $ET Shares Purchased by Strong Tower Advisory Services

Strong Tower Advisory Services increased its position in shares of Energy Transfer LP (NYSE:ET) by 10.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,188 shares of the pipeline company’s stock after purchasing an additional 14,095 shares during the quarter. Strong Tower Advisory Services’ holdings in Energy Transfer were worth $2,795,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chelsea Counsel Co. lifted its holdings in shares of Energy Transfer by 370.3% during the second quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company’s stock worth $1,705,000 after purchasing an additional 74,050 shares during the period. Prevail Innovative Wealth Advisors LLC lifted its holdings in shares of Energy Transfer by 316.9% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company’s stock worth $2,181,000 after purchasing an additional 89,173 shares during the period. Highland Capital Management LLC acquired a new stake in shares of Energy Transfer during the second quarter worth about $930,000. Northern Trust Corp lifted its holdings in shares of Energy Transfer by 223.5% during the first quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company’s stock worth $19,883,000 after purchasing an additional 738,885 shares during the period. Finally, Appaloosa LP lifted its holdings in shares of Energy Transfer by 0.9% during the first quarter. Appaloosa LP now owns 4,957,235 shares of the pipeline company’s stock worth $92,155,000 after purchasing an additional 42,500 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Down 1.9%

Energy Transfer stock opened at $16.30 on Friday. The stock has a market capitalization of $55.95 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 0.98 and a beta of 0.78. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The business has a 50 day simple moving average of $17.34 and a 200-day simple moving average of $17.47. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The business had revenue of $19.24 billion during the quarter, compared to analysts’ expectations of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business’s revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. On average, analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.1%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, August 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 102.33%.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren purchased 1,350,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the transaction, the director owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wells Fargo & Company reiterated an “overweight” rating and set a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Morgan Stanley reduced their price target on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Cowen assumed coverage on Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating for the company. TD Cowen assumed coverage on Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating and a $22.00 price target for the company. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

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.