Kings Path Partners LLC bought a new stake in shares of Energy Transfer LP (NYSE:ET – Free Report) 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 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.
Read Our Latest Stock Analysis on ET
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.
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