Ackerman Capital Advisors LLC Makes New $3.07 Million Investment in Energy Transfer LP $ET

Ackerman Capital Advisors LLC acquired a new stake in shares of Energy Transfer LP (NYSE:ET) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 169,498 shares of the pipeline company’s stock, valued at approximately $3,073,000. Energy Transfer makes up 0.7% of Ackerman Capital Advisors LLC’s investment portfolio, making the stock its 28th biggest position.

A number of other institutional investors have also recently bought and sold shares of ET. Vanguard Personalized Indexing Management LLC raised its position in shares of Energy Transfer by 1.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company’s stock valued at $723,000 after purchasing an additional 565 shares during the period. Hobbs Group Advisors LLC lifted its position in Energy Transfer by 49.6% during the 2nd quarter. Hobbs Group Advisors LLC now owns 19,691 shares of the pipeline company’s stock valued at $357,000 after purchasing an additional 6,531 shares during the period. Sovereign Financial Group Inc. lifted its position in Energy Transfer by 21.0% during the 2nd quarter. Sovereign Financial Group Inc. now owns 12,779 shares of the pipeline company’s stock valued at $232,000 after purchasing an additional 2,214 shares during the period. Concurrent Investment Advisors LLC raised its position in shares of Energy Transfer by 30.9% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 218,658 shares of the pipeline company’s stock valued at $3,964,000 after acquiring an additional 51,676 shares during the period. Finally, Avion Wealth raised its position in shares of Energy Transfer by 3.8% in the 2nd quarter. Avion Wealth now owns 55,882 shares of the pipeline company’s stock valued at $1,038,000 after acquiring an additional 2,022 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

NYSE:ET opened at $16.30 on Friday. The business’s 50-day moving average price is $17.34 and its two-hundred day moving average price is $17.46. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The stock has a market cap of $55.95 billion, a P/E ratio of 12.64, a PEG ratio of 0.96 and a beta of 0.78. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period last year, the company earned $0.35 EPS. As a group, equities analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a dividend yield of 8.1%. Energy Transfer’s dividend payout ratio is presently 102.33%.

Insider Transactions at Energy Transfer

In related news, Director Kelcy L. Warren purchased 1,350,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the acquisition, the director owned 69,178,477 shares of the company’s stock, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ET. Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating for the company. Morgan Stanley dropped their target price on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. TD Cowen initiated coverage on Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating and a $22.00 price target for the company. Scotiabank assumed coverage on Energy Transfer in a research report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 target price on the stock. Finally, Wells Fargo & Company restated an “overweight” rating and set a $23.00 price target (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Fourteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

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.