Tyche Wealth Partners LLC Acquires 3,698 Shares of Energy Transfer LP (NYSE:ET)

Tyche Wealth Partners LLC lifted its holdings in shares of Energy Transfer LP (NYSE:ET) by 16.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,141 shares of the pipeline company’s stock after acquiring an additional 3,698 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Energy Transfer were worth $424,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ET. Rehmann Capital Advisory Group increased its holdings in shares of Energy Transfer by 2.0% during the first quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock valued at $505,000 after acquiring an additional 633 shares in the last quarter. Sfmg LLC increased its holdings in shares of Energy Transfer by 2.2% during the first quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock valued at $494,000 after acquiring an additional 674 shares in the last quarter. Morton Capital Management LLC CA increased its holdings in shares of Energy Transfer by 1.6% during the second quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock valued at $720,000 after acquiring an additional 699 shares in the last quarter. FinTrust Capital Advisors LLC increased its holdings in shares of Energy Transfer by 3.6% during the first quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock valued at $318,000 after acquiring an additional 700 shares in the last quarter. Finally, Essex Financial Services Inc. increased its holdings in shares of Energy Transfer by 2.2% during the first quarter. Essex Financial Services Inc. now owns 33,569 shares of the pipeline company’s stock valued at $528,000 after acquiring an additional 708 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ET shares. Mizuho increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. UBS Group increased their price objective on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Morgan Stanley increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Stifel Nicolaus increased their price objective on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, JPMorgan Chase & Co. increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.29.

Energy Transfer Price Performance

ET traded up $0.31 on Friday, hitting $16.30. 18,588,318 shares of the company’s stock traded hands, compared to its average volume of 13,591,935. The company’s 50 day simple moving average is $15.99 and its 200-day simple moving average is $15.55. The firm has a market cap of $54.93 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 0.42 and a beta of 1.66. Energy Transfer LP has a one year low of $12.83 and a one year high of $16.50. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS. As a group, research analysts anticipate that Energy Transfer LP will post 1.49 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Friday, August 9th will be paid a $0.32 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a yield of 7.85%. Energy Transfer’s payout ratio is presently 117.43%.

Insiders Place Their Bets

In other news, Director Kelcy L. Warren acquired 3,000,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Thomas E. Long purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the acquisition, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The disclosure for this purchase can be found here. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Company Profile

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.