Jaffetilchin Investment Partners LLC Boosts Position in Energy Transfer LP $ET

Jaffetilchin Investment Partners LLC grew its stake in shares of Energy Transfer LP (NYSE:ET) by 9.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 38,504 shares of the pipeline company’s stock after acquiring an additional 3,404 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Energy Transfer were worth $698,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after acquiring an additional 11,844 shares during the period. Bank of New York Mellon Corp raised its position in shares of Energy Transfer by 20.0% in the first quarter. Bank of New York Mellon Corp now owns 134,509 shares of the pipeline company’s stock worth $2,501,000 after buying an additional 22,457 shares in the last quarter. Avantax Advisory Services Inc. boosted its stake in Energy Transfer by 4.2% during the first quarter. Avantax Advisory Services Inc. now owns 190,415 shares of the pipeline company’s stock valued at $3,540,000 after buying an additional 7,632 shares during the period. Assetmark Inc. increased its stake in Energy Transfer by 32.6% in the 1st quarter. Assetmark Inc. now owns 11,615 shares of the pipeline company’s stock worth $216,000 after acquiring an additional 2,855 shares during the last quarter. Finally, HB Wealth Management LLC raised its holdings in shares of Energy Transfer by 21.8% in the 1st quarter. HB Wealth Management LLC now owns 185,760 shares of the pipeline company’s stock valued at $3,453,000 after acquiring an additional 33,231 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Down 0.1%

ET opened at $16.50 on Tuesday. The company has a market cap of $56.65 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.01 and a beta of 0.76. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The business’s 50-day moving average price is $16.87 and its 200-day moving average price is $17.41. 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 (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.06). Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company had revenue of $19.95 billion during the quarter, compared to the consensus estimate of $21.84 billion. During the same quarter in the previous year, the firm posted $0.32 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were given a dividend of $0.3325 per share. This represents a $1.33 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date of this dividend was Friday, November 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is currently 106.40%.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,000,000 shares of Energy Transfer stock in a transaction dated Wednesday, November 19th. The shares were purchased at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the purchase, the director owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. This represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. UBS Group restated a “buy” rating and issued a $22.00 price objective on shares of Energy Transfer in a research report on Wednesday, October 15th. Scotiabank cut their target price on shares of Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a research report on Thursday, November 13th. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Jefferies Financial Group set a $17.00 price objective on Energy Transfer and gave the company a “hold” rating in a research report on Tuesday, October 28th. Finally, Barclays reissued an “overweight” rating and set a $25.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.92.

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.