Energy Transfer LP $ET Shares Acquired by CoreCap Advisors LLC

CoreCap Advisors LLC lifted its holdings in shares of Energy Transfer LP (NYSE:ET) by 12.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 381,258 shares of the pipeline company’s stock after buying an additional 43,049 shares during the period. CoreCap Advisors LLC’s holdings in Energy Transfer were worth $7,537,000 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. Arrow Investment Advisors LLC boosted its stake in Energy Transfer by 4.9% in the second quarter. Arrow Investment Advisors LLC now owns 10,866 shares of the pipeline company’s stock valued at $208,000 after acquiring an additional 505 shares during the period. Cypress Capital Management LLC WY raised its position in shares of Energy Transfer by 3.9% during the 2nd quarter. Cypress Capital Management LLC WY now owns 13,439 shares of the pipeline company’s stock worth $257,000 after purchasing an additional 509 shares during the period. Argent Trust Co lifted its holdings in shares of Energy Transfer by 2.1% in the 2nd quarter. Argent Trust Co now owns 26,035 shares of the pipeline company’s stock worth $498,000 after purchasing an additional 529 shares during the last quarter. State of Wyoming boosted its position in Energy Transfer by 2.5% during the 2nd quarter. State of Wyoming now owns 22,822 shares of the pipeline company’s stock valued at $436,000 after purchasing an additional 548 shares during the period. Finally, Keybank National Association OH grew its stake in Energy Transfer by 0.3% during the 1st quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock worth $4,231,000 after buying an additional 556 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of NYSE:ET traded up $0.14 on Thursday, hitting $20.62. The company’s stock had a trading volume of 5,453,315 shares, compared to its average volume of 12,453,692. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $21.84. The company has a market capitalization of $71.00 billion, a price-to-earnings ratio of 14.03 and a beta of 0.60. The stock’s 50-day moving average is $20.90 and its two-hundred day moving average is $19.98. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data 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. The business had revenue of $34.33 billion for the quarter, compared to analysts’ expectations of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The company’s revenue was up 78.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. On average, equities research analysts forecast that Energy Transfer LP will post 1.73 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 6.6%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.3375. Energy Transfer’s dividend payout ratio (DPR) is currently 92.52%.

Analyst Upgrades and Downgrades

ET has been the topic of several analyst reports. Truist Financial increased their target price on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. TD Cowen restated a “buy” rating and set a $25.00 price target (up from $24.00) on shares of Energy Transfer in a research report on Monday, August 10th. Citigroup reaffirmed a “buy” rating and issued a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a report on Friday, August 7th. Stifel Nicolaus initiated coverage on shares of Energy Transfer in a research report on Thursday, September 10th. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, Weiss Ratings raised shares of Energy Transfer from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, September 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.36.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren bought 647,968 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was purchased at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the completion of the transaction, the director directly owned 147,901,879 shares of the company’s stock, valued at approximately $3,144,393,947.54. This trade represents a 0.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Perry purchased 12,359 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were purchased at an average cost 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 in the company, valued at $4,208,770.58. This represents a 6.32% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 1,012,359 shares of company stock valued at $21,513,543 over the last quarter. Insiders own 3.28% of the company’s stock.

Energy Transfer Profile

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.