AdvisorNet Financial Inc lessened its holdings in shares of Energy Transfer LP (NYSE:ET – Get Rating) by 22.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,622 shares of the pipeline company’s stock after selling 4,125 shares during the quarter. AdvisorNet Financial Inc’s holdings in Energy Transfer were worth $146,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ET. Carl Stuart Investment Advisor Inc. bought a new position in shares of Energy Transfer during the first quarter valued at approximately $27,000. Retirement Group LLC raised its holdings in Energy Transfer by 40.8% in the first quarter. Retirement Group LLC now owns 3,450 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 1,000 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Energy Transfer in the fourth quarter worth $40,000. Ancora Advisors LLC raised its holdings in Energy Transfer by 40.7% in the first quarter. Ancora Advisors LLC now owns 5,535 shares of the pipeline company’s stock worth $42,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Quent Capital LLC raised its holdings in Energy Transfer by 476.1% in the first quarter. Quent Capital LLC now owns 4,730 shares of the pipeline company’s stock worth $53,000 after purchasing an additional 3,909 shares in the last quarter. Institutional investors own 38.80% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. US Capital Advisors reiterated a “buy” rating on shares of Energy Transfer in a report on Wednesday, June 1st. Royal Bank of Canada increased their price objective on Energy Transfer from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. Finally, Barclays increased their price objective on Energy Transfer from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, August 16th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Energy Transfer currently has a consensus rating of “Buy” and an average price target of $14.57.
Energy Transfer Price Performance
Energy Transfer (NYSE:ET – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The pipeline company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. Energy Transfer had a return on equity of 11.98% and a net margin of 4.83%. The firm had revenue of $25.95 billion during the quarter, compared to the consensus estimate of $21.88 billion. As a group, equities analysts expect that Energy Transfer LP will post 1.38 EPS for the current fiscal year.
Energy Transfer Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Monday, August 8th were given a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a dividend yield of 7.71%. Energy Transfer’s dividend payout ratio (DPR) is 73.60%.
Insider Activity at Energy Transfer
In other Energy Transfer news, Chairman Kelcy L. Warren acquired 2,428,747 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were bought at an average cost of $12.04 per share, with a total value of $29,242,113.88. Following the completion of the transaction, the chairman now directly owns 52,007,224 shares of the company’s stock, valued at approximately $626,166,976.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Richard D. Brannon bought 26,027 shares of the company’s stock in a transaction on Thursday, July 14th. The shares were acquired at an average cost of $9.47 per share, with a total value of $246,475.69. Following the completion of the transaction, the director now owns 388,347 shares of the company’s stock, valued at approximately $3,677,646.09. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Kelcy L. Warren bought 2,428,747 shares of the company’s stock in a transaction on Monday, September 12th. The stock was purchased at an average cost of $12.04 per share, for a total transaction of $29,242,113.88. Following the completion of the transaction, the chairman now directly owns 52,007,224 shares of the company’s stock, valued at approximately $626,166,976.96. The disclosure for this purchase can be found here. Insiders have acquired 4,045,866 shares of company stock valued at $46,895,136 over the last ninety days. Insiders own 3.28% of the company’s stock.
Energy Transfer Company Profile
Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.
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