Corient Private Wealth LP Boosts Position in Energy Transfer LP $ET

Corient Private Wealth LP boosted its holdings in Energy Transfer LP (NYSE:ET) by 7.8% during the second quarter, Holdings Channel.com reports. The fund owned 1,868,875 shares of the pipeline company’s stock after acquiring an additional 135,275 shares during the period. Corient Private Wealth LP’s holdings in Energy Transfer were worth $35,733,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Osbon Capital Management LLC acquired a new stake in Energy Transfer during the 2nd quarter valued at $25,000. Basepoint Wealth LLC acquired a new position in shares of Energy Transfer in the fourth quarter valued at approximately $25,000. Gables Capital Management Inc. lifted its stake in shares of Energy Transfer by 60.0% during the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after buying an additional 600 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in shares of Energy Transfer during the first quarter valued at approximately $35,000. Finally, Sarver Vrooman Wealth Advisors acquired a new stake in Energy Transfer during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 0.2%

ET stock opened at $21.38 on Friday. The company has a market cap of $73.61 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 0.75 and a beta of 0.55. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. The business has a fifty day simple moving average of $20.17 and a 200-day simple moving average of $19.51. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $21.64.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.21. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The firm had revenue of $34.33 billion for the quarter, compared to analysts’ expectations of $27.71 billion. During the same quarter last year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter was up 78.4% compared to the same quarter last year. On average, equities research analysts expect that Energy Transfer LP will post 1.66 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.36 annualized dividend and a dividend yield of 6.4%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio is presently 92.52%.

Wall Street Analyst Weigh In

Several analysts have commented on ET shares. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Barclays reissued an “overweight” rating and set a $24.00 price target (up from $23.00) on shares of Energy Transfer in a research note on Wednesday, August 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, July 21st. JPMorgan Chase & Co. upped their target price on Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Finally, Citigroup reiterated a “buy” rating and set a $24.00 target price (up from $23.00) on shares of Energy Transfer in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.08.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren purchased 647,968 shares of Energy Transfer stock in a transaction on Wednesday, August 19th. The shares were purchased at an average cost of $21.26 per share, with a total value of $13,775,799.68. Following the completion of the transaction, the director directly owned 147,901,879 shares in the company, valued at approximately $3,144,393,947.54. This represents a 0.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Richard Perry acquired 12,359 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were acquired at an average price of $20.23 per share, with a total value of $250,022.57. Following the completion of the purchase, the director owned 208,046 shares of the company’s stock, valued at $4,208,770.58. This trade represents a 6.32% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 1,012,359 shares of company stock valued at $21,513,543 in the last quarter. Company insiders own 3.28% of the company’s stock.

Energy Transfer Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.