Energy Transfer LP $ET Position Increased by ELCO Management Co. LLC

ELCO Management Co. LLC increased its position in shares of Energy Transfer LP (NYSE:ET) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 535,387 shares of the pipeline company’s stock after buying an additional 15,668 shares during the quarter. Energy Transfer comprises about 5.1% of ELCO Management Co. LLC’s portfolio, making the stock its 4th largest holding. ELCO Management Co. LLC’s holdings in Energy Transfer were worth $9,707,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. acquired a new position in Energy Transfer in the second quarter valued at approximately $31,000. Vision Financial Markets LLC acquired a new position in Energy Transfer in the first quarter valued at approximately $33,000. CNB Bank boosted its holdings in Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 1,000 shares in the last quarter. Stone House Investment Management LLC acquired a new position in Energy Transfer in the first quarter valued at approximately $38,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Energy Transfer in the first quarter valued at approximately $40,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Price Performance

ET stock opened at $16.99 on Wednesday. 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 business has a 50 day simple moving average of $17.16 and a 200-day simple moving average of $17.42. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The company has a market capitalization of $58.30 billion, a P/E ratio of 13.17, a PEG ratio of 1.01 and a beta of 0.78.

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

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Friday, November 7th will be issued a dividend of $0.3325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 annualized dividend and a dividend yield of 7.8%. The ex-dividend date of this dividend is Friday, November 7th. Energy Transfer’s dividend payout ratio is 102.33%.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren purchased 1,350,000 shares of the firm’s 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 acquisition, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 3.28% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Scotiabank assumed coverage on Energy Transfer in a report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 price target for the company. UBS Group reaffirmed a “buy” rating and issued a $22.00 price target on shares of Energy Transfer in a report on Wednesday, October 15th. Barclays reissued an “overweight” rating and issued a $25.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. Morgan Stanley decreased their price objective on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.23.

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.