Stablepoint Partners LLC Raises Position in Energy Transfer LP $ET

Stablepoint Partners LLC boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,936 shares of the pipeline company’s stock after buying an additional 4,756 shares during the period. Stablepoint Partners LLC’s holdings in Energy Transfer were worth $1,467,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Virtus Investment Advisers LLC boosted its position in shares of Energy Transfer by 20.9% during the 2nd quarter. Virtus Investment Advisers LLC now owns 9,611 shares of the pipeline company’s stock valued at $174,000 after acquiring an additional 1,663 shares during the last quarter. Level Four Advisory Services LLC raised its stake in Energy Transfer by 22.6% in the second quarter. Level Four Advisory Services LLC now owns 190,758 shares of the pipeline company’s stock valued at $3,458,000 after purchasing an additional 35,130 shares in the last quarter. Clarkston Capital Partners LLC lifted its position in Energy Transfer by 15.0% during the second quarter. Clarkston Capital Partners LLC now owns 115,000 shares of the pipeline company’s stock valued at $2,085,000 after purchasing an additional 15,000 shares during the last quarter. Employees Retirement System of Texas lifted its position in Energy Transfer by 22.1% during the second quarter. Employees Retirement System of Texas now owns 2,911,657 shares of the pipeline company’s stock valued at $52,788,000 after purchasing an additional 527,233 shares during the last quarter. Finally, Choreo LLC grew its stake in Energy Transfer by 30.4% in the 2nd quarter. Choreo LLC now owns 76,223 shares of the pipeline company’s stock worth $1,382,000 after buying an additional 17,779 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Insider Activity

In other Energy Transfer news, Director Kelcy L. Warren bought 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were bought at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the purchase, the director directly owned 104,577,803 shares of the company’s stock, valued at $1,772,593,760.85. This trade represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.28% of the stock is owned by insiders.

Energy Transfer Stock Performance

NYSE:ET opened at $16.69 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The firm has a market cap of $57.29 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 1.01 and a beta of 0.76. The business has a 50 day moving average price of $16.79 and a 200-day moving average price of $17.38.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The firm had revenue of $19.95 billion for the quarter, compared to the consensus estimate of $21.84 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. Equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Friday, November 7th were issued a dividend of $0.3325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date was Friday, November 7th. Energy Transfer’s dividend payout ratio (DPR) is currently 106.40%.

Analysts Set New Price Targets

Several analysts have recently weighed in on ET shares. Barclays restated an “overweight” rating and set a $25.00 price objective on shares of Energy Transfer in a research report on Wednesday, October 15th. Morgan Stanley lowered 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. Wells Fargo & Company reaffirmed an “overweight” rating and set a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Scotiabank reduced their price objective on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a research report on Thursday, November 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.92.

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.