Morningstar Investment Management LLC Buys 3,610 Shares of Energy Transfer LP $ET

Morningstar Investment Management LLC raised its stake in Energy Transfer LP (NYSE:ET) by 6.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,947 shares of the pipeline company’s stock after buying an additional 3,610 shares during the period. Morningstar Investment Management LLC’s holdings in Energy Transfer were worth $1,141,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ET. Ryan Investment Management Inc. bought a new position in shares of Energy Transfer in the 2nd quarter worth $31,000. Vision Financial Markets LLC bought a new position in shares of Energy Transfer during the 1st quarter valued at $33,000. HWG Holdings LP bought a new position in shares of Energy Transfer during the 1st quarter valued at $38,000. Stone House Investment Management LLC bought a new position in shares of Energy Transfer during the 1st quarter valued at $38,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Energy Transfer during the 1st quarter valued at $40,000. Institutional investors own 38.22% of the company’s stock.

Insider Activity at Energy Transfer

In related news, Director Kelcy L. Warren bought 1,350,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was purchased at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the transaction, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $16.52 on Tuesday. The firm has a market cap of $56.69 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 0.96 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 company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The company’s fifty day simple moving average is $17.31 and its two-hundred day simple moving average is $17.43.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company’s revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 EPS. As a group, equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were given a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.32 annualized dividend and a dividend yield of 8.0%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is 102.33%.

Wall Street Analysts Forecast Growth

ET has been the topic of several recent research reports. Scotiabank initiated coverage on shares of Energy Transfer in a report on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 target price on the stock. Cowen initiated coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a “buy” rating on the stock. TD Cowen initiated coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a “buy” rating and a $22.00 target price on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and set a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Finally, Morgan Stanley dropped their price target on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Fourteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock 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.