Savvy Advisors Inc. Buys Shares of 19,353 Energy Transfer LP $ET

Savvy Advisors Inc. bought a new stake in shares of Energy Transfer LP (NYSE:ET) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,353 shares of the pipeline company’s stock, valued at approximately $351,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chelsea Counsel Co. boosted its holdings in shares of Energy Transfer by 370.3% during the 2nd quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company’s stock worth $1,705,000 after buying an additional 74,050 shares in the last quarter. Prevail Innovative Wealth Advisors LLC boosted its holdings in shares of Energy Transfer by 316.9% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company’s stock worth $2,181,000 after buying an additional 89,173 shares in the last quarter. Ariston Services Group boosted its holdings in shares of Energy Transfer by 126.7% during the 2nd quarter. Ariston Services Group now owns 100,683 shares of the pipeline company’s stock worth $1,825,000 after buying an additional 56,274 shares in the last quarter. Highland Capital Management LLC bought a new position in shares of Energy Transfer in the 2nd quarter worth $930,000. Finally, Northern Trust Corp lifted its holdings in shares of Energy Transfer by 223.5% in the 1st 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 in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Kelcy L. Warren acquired 1,350,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were acquired at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the purchase, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ET shares. Scotiabank started coverage on Energy Transfer in a report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 target price on the stock. Cowen started coverage on Energy Transfer in a report on Monday, July 7th. They issued a “buy” rating on the stock. TD Cowen started coverage on Energy Transfer in a report on Monday, July 7th. They issued a “buy” rating and a $22.00 target price on the stock. Jefferies Financial Group set a $17.00 target price on Energy Transfer and gave the stock a “hold” rating in a report on Tuesday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average target price of $22.23.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $16.85 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The stock’s fifty day simple moving average is $17.13 and its two-hundred day simple moving average is $17.42. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The stock has a market cap of $57.82 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 1.01 and a beta of 0.78.

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

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th will be paid a dividend of $0.3325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, November 7th. This represents a $1.33 annualized dividend and a yield of 7.9%. Energy Transfer’s dividend payout ratio (DPR) is 102.33%.

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.