Energy Transfer LP $ET Shares Purchased by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC raised its stake in shares of Energy Transfer LP (NYSE:ET) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 172,696 shares of the pipeline company’s stock after purchasing an additional 1,470 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Energy Transfer were worth $3,131,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ryan Investment Management Inc. purchased a new stake in Energy Transfer during the second quarter worth approximately $31,000. Vision Financial Markets LLC purchased a new stake in Energy Transfer during the first quarter worth approximately $33,000. Stone House Investment Management LLC purchased a new stake in Energy Transfer during the first quarter worth approximately $38,000. HWG Holdings LP purchased a new stake in Energy Transfer during the first quarter worth approximately $38,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in Energy Transfer during the first quarter worth approximately $40,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

ET has been the subject of several research reports. UBS Group reiterated a “buy” rating and set a $22.00 price objective on shares of Energy Transfer in a research note on Wednesday, October 15th. Barclays reiterated an “overweight” rating and set a $25.00 price objective on shares of Energy Transfer in a research note on Wednesday, October 15th. Scotiabank began coverage on shares of Energy Transfer in a research note on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price objective for the company. TD Cowen began coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating and a $22.00 target price for the company. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.67.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were bought 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 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.28% of the company’s stock.

Energy Transfer Trading Down 1.4%

NYSE ET opened at $16.44 on Monday. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. The company has a market capitalization of $56.43 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 0.97 and a beta of 0.78. The company’s fifty day moving average price is $17.23 and its two-hundred day moving average price is $17.38.

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

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.0%. This is a positive change 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 currently 102.33%.

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.