Strategic Financial Concepts LLC Boosts Stake in Energy Transfer LP $ET

Strategic Financial Concepts LLC grew its position in shares of Energy Transfer LP (NYSE:ET) by 13.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 42,757 shares of the pipeline company’s stock after acquiring an additional 5,016 shares during the period. Strategic Financial Concepts LLC’s holdings in Energy Transfer were worth $775,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ryan Investment Management Inc. purchased a new position in shares of Energy Transfer during the 2nd quarter worth approximately $31,000. Vision Financial Markets LLC bought a new stake in shares of Energy Transfer in the 1st quarter worth approximately $33,000. CNB Bank boosted its position in shares of Energy Transfer by 111.1% in the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 1,000 shares in the last quarter. Stone House Investment Management LLC bought a new stake in shares of Energy Transfer in the 1st quarter worth approximately $38,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Energy Transfer in the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Jefferies Financial Group set a $17.00 price target on Energy Transfer and gave the stock a “hold” rating in a research report on Tuesday. Morgan Stanley dropped their price target 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. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. TD Cowen assumed coverage on Energy Transfer in a research report on Monday, July 7th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, UBS Group reissued a “buy” rating and issued a $22.00 price target on shares of Energy Transfer in a research report on Wednesday, October 15th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.23.

Energy Transfer Stock Performance

ET stock opened at $16.85 on Friday. The stock has a market capitalization of $57.82 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 1.01 and a beta of 0.78. 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. The stock’s 50 day simple moving average is $17.13 and its 200 day simple moving average is $17.42.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $19.24 billion for the quarter, compared to analysts’ expectations of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 EPS. As a group, research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Friday, November 7th will be given a $0.3325 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.33 annualized dividend and a yield of 7.9%. Energy Transfer’s payout ratio is currently 103.10%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren acquired 1,350,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the transaction, the director owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. The trade was a 1.99% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.28% of the company’s stock.

About Energy Transfer

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.