11,131 Shares in Energy Transfer LP (NYSE:ET) Acquired by Arkfeld Wealth Strategies L.L.C.

Arkfeld Wealth Strategies L.L.C. bought a new stake in Energy Transfer LP (NYSE:ET) during the third quarter, HoldingsChannel reports. The institutional investor bought 11,131 shares of the pipeline company’s stock, valued at approximately $181,000.

A number of other large investors also recently added to or reduced their stakes in ET. LRI Investments LLC acquired a new position in shares of Energy Transfer in the first quarter valued at approximately $29,000. HWG Holdings LP acquired a new position in shares of Energy Transfer in the second quarter worth $33,000. Sugarloaf Wealth Management LLC increased its position in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares during the period. Hudson Edge Investment Partners Inc. acquired a new stake in shares of Energy Transfer in the second quarter valued at $42,000. Finally, EdgeRock Capital LLC purchased a new position in Energy Transfer in the second quarter valued at $42,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Thomas E. Long bought 20,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost 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 of the company’s stock, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Energy Transfer news, CEO Thomas E. Long bought 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is currently owned by insiders.

Energy Transfer Stock Down 0.5 %

Shares of NYSE ET traded down $0.08 during midday trading on Tuesday, hitting $16.47. 5,240,802 shares of the company’s stock were exchanged, compared to its average volume of 13,093,964. The firm’s fifty day simple moving average is $16.07 and its 200-day simple moving average is $15.93. The company has a market cap of $55.50 billion, a PE ratio of 15.12, a P/E/G ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a twelve month low of $12.90 and a twelve month high of $16.64. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. During the same quarter in the prior year, the firm posted $0.25 EPS. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. Research analysts predict that Energy Transfer LP will post 1.35 EPS for the current fiscal 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 paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 7.77%. 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. Energy Transfer’s dividend payout ratio is currently 117.43%.

Analysts Set New Price Targets

ET has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Mizuho upped their target price 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. Finally, UBS Group lifted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Energy Transfer currently has an average rating of “Buy” and an average price target of $20.00.

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.