Energy Transfer LP $ET Shares Bought by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC lifted its stake in shares of Energy Transfer LP (NYSEAMERICAN:ET) by 306.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,039 shares of the pipeline company’s stock after purchasing an additional 53,547 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Energy Transfer were worth $1,404,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ET. Summit Securities Group LLC raised its holdings in Energy Transfer by 179.0% during the first quarter. Summit Securities Group LLC now owns 162,100 shares of the pipeline company’s stock worth $3,129,000 after purchasing an additional 104,000 shares in the last quarter. Sanctuary Advisors LLC lifted its position in Energy Transfer by 15.8% in the first quarter. Sanctuary Advisors LLC now owns 1,888,661 shares of the pipeline company’s stock worth $36,451,000 after purchasing an additional 257,954 shares during the period. Mizuho Markets Americas LLC bought a new position in Energy Transfer during the 1st quarter valued at $61,760,000. Independent Financial Group LLC bought a new position in Energy Transfer during the 1st quarter valued at $2,170,000. Finally, Envestnet Asset Management Inc. boosted its stake in Energy Transfer by 8.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,244,157 shares of the pipeline company’s stock valued at $23,788,000 after purchasing an additional 98,624 shares in the last quarter. 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 bought 647,968 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were acquired 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. The trade was a 0.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Perry purchased 12,359 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were purchased at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the acquisition, the director directly 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. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 1,012,359 shares of company stock valued at $21,513,543 over the last ninety days. Insiders own 3.28% of the company’s stock.

Energy Transfer Price Performance

NYSEAMERICAN ET opened at $20.91 on Friday. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $21.84. The business’s fifty day moving average is $20.76 and its two-hundred day moving average is $19.65. The stock has a market capitalization of $72.00 billion, a P/E ratio of 14.20, a P/E/G ratio of 0.72 and a beta of 0.60. 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 (NYSEAMERICAN:ET) last announced its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping 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 company had revenue of $34.33 billion for the quarter, compared to analyst estimates of $27.71 billion. During the same period in the previous year, the firm earned $0.32 earnings per share. Energy Transfer’s revenue for the quarter was up 78.4% compared to the same quarter last year. On average, research analysts forecast that Energy Transfer LP will post 1.73 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Friday, November 6th will be issued a dividend of $0.3425 per share. This represents a $1.37 annualized dividend and a yield of 6.6%. The ex-dividend date is Friday, November 6th. This is a boost 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 brokerages have recently issued reports on ET. Capital One Financial initiated coverage on Energy Transfer in a research report on Tuesday, September 22nd. They set an “overweight” rating and a $26.00 price target on the stock. Barclays reaffirmed an “overweight” rating and set a $24.00 target price (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 set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, July 21st. Weiss Ratings raised Energy Transfer from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, September 8th. Finally, TD Cowen reiterated a “buy” rating and issued a $25.00 price target (up from $24.00) on shares of Energy Transfer in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.60.

About Energy Transfer

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.