91,487 Shares in Energy Transfer LP (NYSE:ET) Purchased by Royal Fund Management LLC

Royal Fund Management LLC acquired a new position in Energy Transfer LP (NYSE:ET) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 91,487 shares of the pipeline company’s stock, valued at approximately $1,162,000.

Several other large investors also recently bought and sold shares of the business. Bard Financial Services Inc. increased its holdings in Energy Transfer by 12.0% in the 2nd quarter. Bard Financial Services Inc. now owns 58,250 shares of the pipeline company’s stock worth $740,000 after buying an additional 6,250 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Energy Transfer by 3.4% during the 2nd quarter. Maryland State Retirement & Pension System now owns 2,845,565 shares of the pipeline company’s stock valued at $36,139,000 after purchasing an additional 93,137 shares during the period. Good Life Advisors LLC grew its stake in shares of Energy Transfer by 25.2% during the 2nd quarter. Good Life Advisors LLC now owns 19,160 shares of the pipeline company’s stock valued at $243,000 after purchasing an additional 3,854 shares during the period. Sanders Morris Harris LLC grew its stake in shares of Energy Transfer by 128.5% during the 2nd quarter. Sanders Morris Harris LLC now owns 70,525 shares of the pipeline company’s stock valued at $901,000 after purchasing an additional 39,656 shares during the period. Finally, Level Four Advisory Services LLC grew its stake in shares of Energy Transfer by 21.7% during the 2nd quarter. Level Four Advisory Services LLC now owns 54,775 shares of the pipeline company’s stock valued at $696,000 after purchasing an additional 9,782 shares during the period. 33.79% of the stock is currently owned by institutional investors.

Energy Transfer Trading Up 1.3 %

Shares of NYSE:ET opened at $13.77 on Tuesday. The stock has a 50 day moving average of $13.18 and a 200 day moving average of $12.81. The company has a current ratio of 0.81, a quick ratio of 0.64 and a debt-to-equity ratio of 1.28. Energy Transfer LP has a 12-month low of $10.02 and a 12-month high of $13.87. The company has a market cap of $43.28 billion, a PE ratio of 11.48 and a beta of 1.70.

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 analysts’ consensus estimates of $0.30 by ($0.05). Energy Transfer had a return on equity of 11.85% and a net margin of 5.05%. The business had revenue of $18.32 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the prior year, the firm posted $0.39 earnings per share. The firm’s revenue for the quarter was down 29.4% on a year-over-year basis. As a group, equities research analysts expect that Energy Transfer LP will post 1.21 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 14th were issued a $0.31 dividend. The ex-dividend date was Friday, August 11th. This represents a $1.24 dividend on an annualized basis and a yield of 9.01%. Energy Transfer’s dividend payout ratio is presently 103.33%.

Insider Buying and Selling

In other news, CEO Marshall S. Mccrea III acquired 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were acquired at an average cost of $13.79 per share, with a total value of $689,500.00. Following the acquisition, the chief executive officer now directly owns 6,769,267 shares of the company’s stock, valued at $93,348,191.93. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Marshall S. Mccrea III acquired 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were acquired at an average cost of $13.79 per share, with a total value of $689,500.00. Following the acquisition, the chief executive officer now directly owns 6,769,267 shares of the company’s stock, valued at $93,348,191.93. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Kelcy L. Warren acquired 1,150,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were purchased at an average cost of $13.00 per share, for a total transaction of $14,950,000.00. Following the completion of the acquisition, the chairman now directly owns 64,578,477 shares in the company, valued at $839,520,201. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 2,010,000 shares of company stock valued at $26,149,000. Corporate insiders own 3.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ET. Morgan Stanley restated an “overweight” rating and set a $17.00 price target on shares of Energy Transfer in a research note on Thursday, July 20th. Mizuho boosted their price objective on Energy Transfer from $17.00 to $18.00 in a research note on Tuesday, July 18th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Energy Transfer currently has an average rating of “Buy” and a consensus price target of $16.67.

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.