Almanack Investment Partners LLC. Increases Position in Energy Transfer LP $ET

Almanack Investment Partners LLC. raised its position in Energy Transfer LP (NYSE:ET) by 9.0% during the second quarter, Holdings Channel reports. The firm owned 18,440 shares of the pipeline company’s stock after buying an additional 1,527 shares during the quarter. Almanack Investment Partners LLC.’s holdings in Energy Transfer were worth $334,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. purchased a new stake in Energy Transfer in the second quarter valued at approximately $31,000. Vision Financial Markets LLC purchased a new stake in Energy Transfer in the first quarter valued at approximately $33,000. HWG Holdings LP purchased a new stake in Energy Transfer in the first quarter valued at approximately $38,000. Stone House Investment Management LLC purchased a new stake in Energy Transfer in the first quarter valued at approximately $38,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in Energy Transfer in the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Insiders Place Their Bets

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 stock was purchased at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the transaction, the director directly owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Cowen assumed coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating for the company. Scotiabank assumed coverage on shares of Energy Transfer in a research note on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 price target for the company. Wells Fargo & Company restated an “overweight” rating and issued a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Finally, TD Cowen assumed coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating and a $22.00 price target for the company. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Energy Transfer Stock Performance

Shares of ET stock opened at $16.52 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The firm has a fifty day moving average price of $17.31 and a 200 day moving average price of $17.43. The company has a market cap of $56.69 billion, a P/E ratio of 12.80, a PEG ratio of 0.96 and a beta of 0.78. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $19.24 billion during the quarter, compared to the consensus estimate of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Sell-side analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 8.0%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 8th. Energy Transfer’s dividend payout ratio is presently 102.33%.

Energy Transfer 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.