Texas Yale Capital Corp. Grows Position in Energy Transfer LP $ET

Texas Yale Capital Corp. raised its stake in Energy Transfer LP (NYSE:ET) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,236,265 shares of the pipeline company’s stock after acquiring an additional 59,125 shares during the quarter. Energy Transfer makes up 0.7% of Texas Yale Capital Corp.’s portfolio, making the stock its 15th biggest holding. Texas Yale Capital Corp.’s holdings in Energy Transfer were worth $21,214,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Lee Financial Co increased its holdings in Energy Transfer by 359.7% in the 3rd quarter. Lee Financial Co now owns 193,817 shares of the pipeline company’s stock valued at $3,326,000 after purchasing an additional 151,657 shares in the last quarter. Eagle Global Advisors LLC boosted its position in shares of Energy Transfer by 6.0% in the third quarter. Eagle Global Advisors LLC now owns 6,466,059 shares of the pipeline company’s stock worth $110,958,000 after buying an additional 363,623 shares during the period. Corient Private Wealth LLC grew its stake in shares of Energy Transfer by 223.7% in the second quarter. Corient Private Wealth LLC now owns 1,690,771 shares of the pipeline company’s stock valued at $30,654,000 after buying an additional 1,168,440 shares in the last quarter. Jump Financial LLC raised its holdings in shares of Energy Transfer by 2,687.9% during the 2nd quarter. Jump Financial LLC now owns 1,791,358 shares of the pipeline company’s stock valued at $32,477,000 after buying an additional 1,727,104 shares during the period. Finally, Maryland State Retirement & Pension System lifted its position in Energy Transfer by 5.2% during the 3rd quarter. Maryland State Retirement & Pension System now owns 2,927,436 shares of the pipeline company’s stock worth $50,235,000 after acquiring an additional 144,037 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

ET opened at $18.77 on Monday. The company has a market capitalization of $64.43 billion, a P/E ratio of 15.01, a PEG ratio of 0.97 and a beta of 0.66. The company has a 50-day moving average of $17.21 and a 200-day moving average of $17.13. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.14 and a current ratio of 1.41. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $20.51.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Friday, February 6th will be paid a dividend of $0.335 per share. The ex-dividend date is Friday, February 6th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 annualized dividend and a yield of 7.1%. Energy Transfer’s payout ratio is currently 107.20%.

Insider Buying and Selling

In other news, Director Kelcy L. Warren purchased 1,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were acquired at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the transaction, the director owned 104,577,803 shares in the company, valued at approximately $1,772,593,760.85. The trade was a 0.97% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.28% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ET has been the subject of several recent research reports. Royal Bank Of Canada raised shares of Energy Transfer to a “moderate buy” rating in a research report on Monday, December 15th. Morgan Stanley dropped their price target 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. JPMorgan Chase & Co. lowered their target price on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.36.

About Energy Transfer

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.