Howard Financial Services LTD. Acquires 6,262 Shares of Energy Transfer LP $ET

Howard Financial Services LTD. boosted its holdings in Energy Transfer LP (NYSE:ET) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 188,309 shares of the pipeline company’s stock after purchasing an additional 6,262 shares during the quarter. Howard Financial Services LTD.’s holdings in Energy Transfer were worth $3,414,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new stake in Energy Transfer in the fourth quarter worth approximately $26,000. Fourth Dimension Wealth LLC bought a new stake in Energy Transfer in the fourth quarter worth approximately $29,000. Vision Financial Markets LLC acquired a new stake in Energy Transfer in the first quarter valued at approximately $33,000. HWG Holdings LP acquired a new stake in Energy Transfer in the first quarter valued at approximately $38,000. Finally, Stone House Investment Management LLC acquired a new stake in Energy Transfer in the first quarter valued at approximately $38,000. 38.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on ET shares. JPMorgan Chase & Co. reduced their price objective on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Morgan Stanley cut their target price on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Cowen began coverage on Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating on the stock. TD Cowen began coverage on Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating and a $22.00 target price on the stock. Finally, Mizuho lifted their target price on Energy Transfer from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, May 20th. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $22.54.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $17.45 on Friday. The business’s fifty day simple moving average is $17.55 and its 200 day simple moving average is $17.66. The firm has a market capitalization of $59.90 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 1.00 and a beta of 0.85. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.Energy Transfer’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period last year, the company posted $0.35 earnings per share. As a group, analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were paid a $0.33 dividend. The ex-dividend date was Friday, August 8th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a dividend yield of 7.6%. Energy Transfer’s dividend payout ratio is presently 102.33%.

Insider Activity

In other news, Director Kelcy L. Warren bought 1,350,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were purchased at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the purchase, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This represents a 1.99% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.28% of the stock is currently owned by insiders.

Energy Transfer 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.