Energy Transfer LP $ET Shares Acquired by Black Swift Group LLC

Black Swift Group LLC increased its position in Energy Transfer LP (NYSE:ET) by 6.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 185,530 shares of the pipeline company’s stock after acquiring an additional 11,265 shares during the period. Black Swift Group LLC’s holdings in Energy Transfer were worth $3,364,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ET. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Energy Transfer during the second quarter valued at $168,917,000. Alps Advisors Inc. increased its stake in Energy Transfer by 12.9% in the 1st quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company’s stock worth $1,400,831,000 after purchasing an additional 8,613,645 shares in the last quarter. Commerce Bank purchased a new position in Energy Transfer in the 1st quarter worth about $92,607,000. Energy Income Partners LLC increased its stake in Energy Transfer by 12.0% in the 1st quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company’s stock worth $429,802,000 after purchasing an additional 2,471,401 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Energy Transfer in the 1st quarter worth about $44,876,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Transactions at Energy Transfer

In other news, Director Kelcy L. Warren purchased 1,350,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was bought at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the purchase, the director directly owned 69,178,477 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through the SEC website. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Stock Up 2.4%

Shares of Energy Transfer stock opened at $16.94 on Thursday. The stock has a 50-day moving average price of $17.08 and a 200 day moving average price of $17.42. The company has a market cap of $58.15 billion, a P/E ratio of 13.13, a P/E/G ratio of 1.01 and a beta of 0.76. 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.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.06). The business had revenue of $19.95 billion during the quarter, compared to analysts’ expectations of $21.84 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%. As a group, analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Friday, November 7th will be paid a $0.3325 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.33 annualized dividend and a yield of 7.9%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is currently 103.10%.

Wall Street Analysts Forecast Growth

ET has been the topic of a number of analyst reports. Scotiabank initiated coverage on Energy Transfer in a research note on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 price target on the stock. UBS Group reissued a “buy” rating and issued a $22.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. Barclays reissued an “overweight” rating and issued a $25.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. 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. Finally, Jefferies Financial Group set a $17.00 price target on Energy Transfer and gave the stock a “hold” rating in a research note on Tuesday, October 28th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $22.23.

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.