Energy Transfer LP (NYSE:ET) Shares Acquired by Avalon Capital Management

Avalon Capital Management increased its holdings in Energy Transfer LP (NYSE:ET) by 2.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 77,121 shares of the pipeline company’s stock after acquiring an additional 1,622 shares during the quarter. Avalon Capital Management’s holdings in Energy Transfer were worth $1,251,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Northwest Financial Advisors acquired a new position in shares of Energy Transfer in the fourth quarter worth about $25,000. LRI Investments LLC bought a new stake in Energy Transfer in the first quarter valued at about $29,000. Atlantic Edge Private Wealth Management LLC bought a new stake in Energy Transfer in the fourth quarter valued at about $33,000. Ables Iannone Moore & Associates Inc. bought a new stake in Energy Transfer in the fourth quarter valued at about $34,000. Finally, Community Bank N.A. increased its holdings in Energy Transfer by 55.9% in the fourth quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock valued at $37,000 after buying an additional 951 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

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

Energy Transfer Stock Performance

Shares of NYSE:ET traded up $0.20 during trading on Friday, hitting $16.15. 8,535,510 shares of the company traded hands, compared to its average volume of 13,553,185. The stock has a market capitalization of $54.41 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 0.42 and a beta of 1.66. The business’s fifty day moving average is $16.04 and its 200-day moving average is $15.59. Energy Transfer LP has a one year low of $12.90 and a one year high of $16.50. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37.

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

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 7.93%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s dividend payout ratio is 117.43%.

Insider Buying and Selling

In other Energy Transfer news, CEO Thomas E. Long acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Thomas E. Long bought 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kelcy L. Warren bought 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at $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.