Winebrenner Capital Management LLC Has $670,000 Stock Holdings in Energy Transfer LP $ET

Winebrenner Capital Management LLC grew its holdings in Energy Transfer LP (NYSE:ET) by 16.3% during the second quarter, Holdings Channel reports. The firm owned 36,945 shares of the pipeline company’s stock after acquiring an additional 5,181 shares during the quarter. Winebrenner Capital Management LLC’s holdings in Energy Transfer were worth $670,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ryan Investment Management Inc. acquired a new position in shares of Energy Transfer in the 2nd quarter valued at about $31,000. Vision Financial Markets LLC acquired a new position in shares of Energy Transfer in the 1st quarter valued at about $33,000. CNB Bank lifted its stake in shares of Energy Transfer by 111.1% in the 2nd 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 during the period. Stone House Investment Management LLC acquired a new position in Energy Transfer during the 1st quarter worth approximately $38,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Energy Transfer during the 1st quarter worth approximately $40,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ET. Morgan Stanley dropped their price target on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. UBS Group reaffirmed a “buy” rating and set a $22.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. Barclays reaffirmed an “overweight” rating and set a $25.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. Scotiabank began coverage on Energy Transfer in a research note on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price target on the stock. Finally, Weiss Ratings restated 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.23.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren purchased 1,350,000 shares of Energy Transfer stock in a transaction dated Wednesday, August 20th. The stock was bought at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the transaction, the director 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.28% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET 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 stock has a 50 day moving average of $17.16 and a 200 day moving average of $17.42. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The company has a market capitalization of $58.30 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.01 and a beta of 0.78.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business 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 business posted $0.35 earnings per share. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th will be given a $0.3325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend is Friday, November 7th. Energy Transfer’s dividend payout ratio (DPR) is 102.33%.

Energy Transfer Company 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.