Probity Advisors Inc. Boosts Position in Energy Transfer LP $ET

Probity Advisors Inc. increased its stake in Energy Transfer LP (NYSE:ET) by 26.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,209 shares of the pipeline company’s stock after buying an additional 3,401 shares during the period. Probity Advisors Inc.’s holdings in Energy Transfer were worth $294,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ET. Brighton Jones LLC increased its stake in Energy Transfer by 93.4% in the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after buying an additional 11,844 shares during the period. Flagship Harbor Advisors LLC increased its position in Energy Transfer by 14.4% during the 1st quarter. Flagship Harbor Advisors LLC now owns 41,602 shares of the pipeline company’s stock valued at $773,000 after purchasing an additional 5,221 shares during the period. International Assets Investment Management LLC increased its position in Energy Transfer by 3.6% during the 1st quarter. International Assets Investment Management LLC now owns 269,886 shares of the pipeline company’s stock valued at $5,017,000 after purchasing an additional 9,392 shares during the period. Mattern Wealth Management LLC increased its position in Energy Transfer by 4.5% during the 1st quarter. Mattern Wealth Management LLC now owns 45,022 shares of the pipeline company’s stock valued at $837,000 after purchasing an additional 1,934 shares during the period. Finally, Daymark Wealth Partners LLC increased its position in Energy Transfer by 2.7% during the 1st quarter. Daymark Wealth Partners LLC now owns 165,068 shares of the pipeline company’s stock valued at $3,069,000 after purchasing an additional 4,390 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Down 0.1%

ET stock opened at $16.75 on Wednesday. The firm has a 50 day moving average of $17.21 and a 200 day moving average of $17.38. The stock has a market capitalization of $57.51 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 1.00 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 LP has a 52 week low of $14.60 and a 52 week high of $21.45.

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

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were paid a $0.33 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, August 8th. This represents a $1.32 dividend on an annualized basis and a yield of 7.9%. Energy Transfer’s dividend payout ratio (DPR) is 102.33%.

Insider Buying and Selling

In related news, Director Kelcy L. Warren bought 1,350,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was bought at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the purchase, the director directly 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.28% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on ET. UBS Group reissued a “buy” rating and set a $22.00 target price on shares of Energy Transfer in a research report on Wednesday, October 15th. TD Cowen began coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating and a $22.00 target price on the stock. Wells Fargo & Company reissued an “overweight” rating and set a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Finally, Barclays reissued an “overweight” rating and set a $25.00 target price on shares of Energy Transfer in a research report on Wednesday, October 15th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and a consensus target price of $22.67.

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.