Kings Path Partners LLC Purchases New Stake in Energy Transfer LP (NYSE:ET)

Kings Path Partners LLC bought a new stake in shares of Energy Transfer LP (NYSE:ET) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 8,000 shares of the pipeline company’s stock, valued at approximately $130,000.

Other hedge funds also recently modified their holdings of the company. Berkley W R Corp raised its holdings in shares of Energy Transfer by 11.6% during the first quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock worth $83,912,000 after acquiring an additional 555,445 shares during the period. NBC Securities Inc. raised its position in Energy Transfer by 4.3% in the 1st quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock valued at $886,000 after buying an additional 2,326 shares during the last quarter. US Bancorp DE lifted its stake in Energy Transfer by 95.8% in the 4th quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock valued at $2,013,000 after acquiring an additional 71,386 shares in the last quarter. Savant Capital LLC boosted its position in Energy Transfer by 19.7% during the 4th quarter. Savant Capital LLC now owns 26,335 shares of the pipeline company’s stock worth $363,000 after acquiring an additional 4,340 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Energy Transfer by 491.3% during the 1st quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock worth $20,297,000 after acquiring an additional 1,072,144 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

ET opened at $16.10 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The stock has a market cap of $54.24 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.42 and a beta of 1.66. Energy Transfer LP has a 12-month low of $12.90 and a 12-month high of $16.50. The business has a 50 day moving average of $16.10 and a 200-day moving average of $15.66.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share. On average, equities research analysts expect that Energy Transfer LP will post 1.49 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.95%. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

Analyst Upgrades and Downgrades

ET has been the subject of several recent research reports. Stifel Nicolaus increased their target price on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. UBS Group increased their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Mizuho upped their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Finally, Morgan Stanley raised their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

Insider Activity

In other news, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the acquisition, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Energy Transfer news, Director Kelcy L. Warren bought 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the transaction, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is owned by insiders.

Energy Transfer Company 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.