Armstrong Advisory Group Inc. Raises Stake in Energy Transfer LP $ET

Armstrong Advisory Group Inc. increased its stake in shares of Energy Transfer LP (NYSE:ET) by 140.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,521 shares of the pipeline company’s stock after purchasing an additional 2,641 shares during the period. Armstrong Advisory Group Inc.’s holdings in Energy Transfer were worth $82,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ET. Capital A Wealth Management LLC purchased a new stake in Energy Transfer during the 4th quarter worth about $26,000. Ryan Investment Management Inc. purchased a new stake in Energy Transfer during the 2nd quarter worth about $31,000. Vision Financial Markets LLC purchased a new stake in Energy Transfer during the 1st quarter worth about $33,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer in the 1st quarter valued at about $38,000. Finally, Stone House Investment Management LLC purchased a new stake in shares of Energy Transfer in the 1st quarter valued at about $38,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $17.15 on Tuesday. The stock has a market cap of $58.87 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 1.02 and a beta of 0.85. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The stock’s 50-day moving average is $17.53 and its 200 day moving average is $17.61.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $19.24 billion for the quarter, compared to analysts’ expectations of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.Energy Transfer’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period last year, the firm posted $0.35 EPS. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.7%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is 102.33%.

Insider Transactions at Energy Transfer

In related news, Director Kelcy L. Warren purchased 1,350,000 shares of Energy Transfer stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the transaction, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. The trade was a 1.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.28% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ET has been the topic of several recent analyst reports. TD Cowen initiated coverage on Energy Transfer in a report on Monday, July 7th. They issued a “buy” rating and a $22.00 price target on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Morgan Stanley lowered their price target on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Scotiabank initiated coverage on Energy Transfer in a report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 price target on the stock. Finally, Cowen initiated coverage on Energy Transfer in a report on Monday, July 7th. They issued a “buy” rating on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

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.