Energy Transfer LP (NYSE:ET) Shares Purchased by Wexford Capital LP

Wexford Capital LP raised its stake in shares of Energy Transfer LP (NYSE:ET) by 41.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 495,015 shares of the pipeline company’s stock after buying an additional 144,075 shares during the period. Energy Transfer makes up 1.3% of Wexford Capital LP’s portfolio, making the stock its 20th biggest position. Wexford Capital LP’s holdings in Energy Transfer were worth $6,173,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Country Club Bank GFN boosted its position in shares of Energy Transfer by 7.5% during the 1st quarter. Country Club Bank GFN now owns 11,337 shares of the pipeline company’s stock valued at $141,000 after purchasing an additional 794 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Energy Transfer by 5.2% during the 4th quarter. Rehmann Capital Advisory Group now owns 16,213 shares of the pipeline company’s stock valued at $192,000 after purchasing an additional 801 shares in the last quarter. Argent Advisors Inc. boosted its position in shares of Energy Transfer by 1.2% during the 1st quarter. Argent Advisors Inc. now owns 68,093 shares of the pipeline company’s stock valued at $849,000 after purchasing an additional 825 shares in the last quarter. Good Life Advisors LLC boosted its position in shares of Energy Transfer by 7.1% during the 4th quarter. Good Life Advisors LLC now owns 12,562 shares of the pipeline company’s stock valued at $149,000 after purchasing an additional 828 shares in the last quarter. Finally, Wescott Financial Advisory Group LLC boosted its position in shares of Energy Transfer by 2.3% during the 1st quarter. Wescott Financial Advisory Group LLC now owns 37,026 shares of the pipeline company’s stock valued at $462,000 after purchasing an additional 842 shares in the last quarter. Institutional investors and hedge funds own 33.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ET. Morgan Stanley restated an “overweight” rating and set a $17.00 price objective on shares of Energy Transfer in a research report on Thursday, July 20th. Mizuho raised their target price on shares of Energy Transfer from $17.00 to $18.00 in a report on Tuesday, July 18th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $16.67.

Energy Transfer Stock Down 0.4 %

Shares of ET stock traded down $0.05 during trading on Monday, hitting $13.71. 3,766,942 shares of the company were exchanged, compared to its average volume of 11,479,442. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.64 and a current ratio of 0.81. The firm has a market capitalization of $43.09 billion, a price-to-earnings ratio of 11.47 and a beta of 1.70. The business’s 50-day simple moving average is $13.11 and its 200 day simple moving average is $12.78. Energy Transfer LP has a twelve month low of $10.02 and a twelve month high of $13.87.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.05). The company had revenue of $18.32 billion for the quarter, compared to analyst estimates of $20.40 billion. Energy Transfer had a return on equity of 11.85% and a net margin of 5.05%. The business’s revenue for the quarter was down 29.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. As a group, analysts forecast that Energy Transfer LP will post 1.21 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 14th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 9.04%. The ex-dividend date of this dividend was Friday, August 11th. Energy Transfer’s payout ratio is presently 103.33%.

Insider Activity at Energy Transfer

In other Energy Transfer news, CEO Marshall S. Mccrea III acquired 50,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were purchased at an average price of $13.64 per share, with a total value of $682,000.00. Following the completion of the transaction, the chief executive officer now owns 6,719,267 shares in the company, valued at $91,650,801.88. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other news, Chairman Kelcy L. Warren purchased 1,150,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were bought at an average price of $13.00 per share, with a total value of $14,950,000.00. Following the completion of the transaction, the chairman now directly owns 64,578,477 shares in the company, valued at approximately $839,520,201. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Marshall S. Mccrea III acquired 50,000 shares of the stock in a transaction dated Friday, September 1st. The stock was bought at an average price of $13.64 per share, for a total transaction of $682,000.00. Following the purchase, the chief executive officer now owns 6,719,267 shares of the company’s stock, valued at approximately $91,650,801.88. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 2,010,000 shares of company stock valued at $26,149,000. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer 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 19,945 miles of interstate natural gas pipeline.