Valeo Financial Advisors LLC Acquires 5,200 Shares of Energy Transfer LP $ET

Valeo Financial Advisors LLC raised its holdings in Energy Transfer LP (NYSE:ET) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 186,126 shares of the pipeline company’s stock after buying an additional 5,200 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Energy Transfer were worth $3,374,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Chelsea Counsel Co. increased its holdings in Energy Transfer by 370.3% in the 2nd quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company’s stock valued at $1,705,000 after buying an additional 74,050 shares during the period. Prevail Innovative Wealth Advisors LLC increased its holdings in Energy Transfer by 316.9% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company’s stock valued at $2,181,000 after buying an additional 89,173 shares during the period. Northern Trust Corp increased its holdings in Energy Transfer by 223.5% in the 1st quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company’s stock valued at $19,883,000 after buying an additional 738,885 shares during the period. Appaloosa LP increased its holdings in Energy Transfer by 0.9% in the 1st quarter. Appaloosa LP now owns 4,957,235 shares of the pipeline company’s stock valued at $92,155,000 after buying an additional 42,500 shares during the period. Finally, Mountain Lake Investment Management LLC bought a new stake in shares of Energy Transfer in the 1st quarter worth about $782,000. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ET shares. Cowen started coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a “buy” rating on the stock. Morgan Stanley lowered their target price on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Scotiabank started coverage on shares of Energy Transfer in a report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 target price on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a report on Saturday, September 27th. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Energy Transfer Stock Performance

Energy Transfer stock opened at $16.66 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The company has a market cap of $57.19 billion, a PE ratio of 12.91, a PEG ratio of 0.99 and a beta of 0.78. The company’s 50-day moving average is $17.45 and its two-hundred day moving average is $17.51.

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

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were given a $0.33 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.9%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is 102.33%.

Insider Buying and Selling at Energy Transfer

In other news, Director Kelcy L. Warren purchased 1,350,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 69,178,477 shares of the company’s stock, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 3.28% of the stock is owned by corporate insiders.

About Energy Transfer

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.