51,708 Shares in Energy Transfer LP $ET Purchased by McAlvany Wealth Management LLC

McAlvany Wealth Management LLC bought a new position in shares of Energy Transfer LP (NYSEAMERICAN:ET) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 51,708 shares of the pipeline company’s stock, valued at approximately $1,022,000.

A number of other large investors also recently bought and sold shares of the company. Osbon Capital Management LLC bought a new position in Energy Transfer during the 2nd quarter worth $25,000. Sawyer & Company Inc purchased a new stake in Energy Transfer during the third quarter valued at about $30,000. Cassaday & Co Wealth Management LLC acquired a new stake in Energy Transfer during the 1st quarter valued at $35,000. Bullseye Investment Management LLC acquired a new position in shares of Energy Transfer in the 2nd quarter valued at about $42,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of Energy Transfer in the second quarter worth approximately $42,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

NYSEAMERICAN ET opened at $20.34 on Tuesday. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $21.84. The company has a fifty day simple moving average of $20.75 and a 200 day simple moving average of $19.66. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45. The company has a market cap of $70.04 billion, a P/E ratio of 13.84, a P/E/G ratio of 0.72 and a beta of 0.60.

Energy Transfer (NYSEAMERICAN:ET) last announced its quarterly 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 period in the prior year, the business posted $0.32 earnings per share. The business’s revenue was up 78.4% compared to the same quarter last year. On average, sell-side analysts predict that Energy Transfer LP will post 1.73 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Friday, November 6th will be paid a $0.3425 dividend. This represents a $1.37 dividend on an annualized basis and a dividend yield of 6.7%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, November 6th. Energy Transfer’s dividend payout ratio is presently 92.52%.

Insider Activity at Energy Transfer

In other Energy Transfer news, Director James Perry purchased 12,359 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average cost of $20.23 per share, for a total transaction of $250,022.57. Following the transaction, the director directly owned 208,046 shares in the company, valued at approximately $4,208,770.58. The trade was a 6.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Kelcy Warren acquired 647,968 shares of the stock in a transaction on Wednesday, August 19th. The stock was bought at an average price of $21.26 per share, with a total value of $13,775,799.68. Following 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 SEC filing for this purchase provides additional information. Insiders bought a total of 1,012,359 shares of company stock worth $21,513,543 over the last three months. 3.28% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Weiss Ratings raised Energy Transfer from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, September 8th. JPMorgan Chase & Co. lifted their target price on shares of Energy Transfer from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, September 4th. Wall Street Zen raised shares of Energy Transfer from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Stifel Nicolaus started coverage on shares of Energy Transfer in a research note on Thursday, September 10th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Mizuho set a $26.00 target price on Energy Transfer in a report on Tuesday, October 13th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus target price of $24.60.

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.