Childress Capital Advisors LLC Has $10.38 Million Position in Energy Transfer LP (NYSE:ET)

Childress Capital Advisors LLC grew its holdings in shares of Energy Transfer LP (NYSE:ET) by 13.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 639,807 shares of the pipeline company’s stock after acquiring an additional 76,350 shares during the quarter. Energy Transfer accounts for approximately 2.9% of Childress Capital Advisors LLC’s holdings, making the stock its 10th biggest holding. Childress Capital Advisors LLC’s holdings in Energy Transfer were worth $10,378,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Northwest Financial Advisors purchased a new stake in Energy Transfer during the 4th quarter valued at about $25,000. LRI Investments LLC bought a new stake in Energy Transfer in the first quarter valued at approximately $29,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Energy Transfer in the fourth quarter worth approximately $33,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Energy Transfer in the fourth quarter worth $34,000. Finally, EdgeRock Capital LLC bought a new stake in Energy Transfer during the 2nd quarter valued at $42,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, 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 acquisition, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas E. Long acquired 20,000 shares of the firm’s stock in a transaction 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 purchase, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. The disclosure for this purchase can be found here. Insiders acquired 3,040,000 shares of company stock valued at $47,667,200 over the last 90 days. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Stock Performance

NYSE:ET opened at $16.05 on Friday. The stock has a 50-day moving average price of $16.11 and a 200 day moving average price of $15.72. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. Energy Transfer LP has a 12-month low of $12.90 and a 12-month high of $16.50. The stock has a market capitalization of $54.09 billion, a P/E ratio of 14.71, a P/E/G ratio of 0.47 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The business had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. 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 business posted $0.25 earnings per share. Equities research analysts forecast that Energy Transfer LP will post 1.4 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced 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. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a yield of 7.98%. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

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.