Energy Transfer LP $ET Stock Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lifted its stake in Energy Transfer LP (NYSEAMERICAN:ET) by 11.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 420,370 shares of the pipeline company’s stock after buying an additional 42,042 shares during the period. Oppenheimer & Co. Inc.’s holdings in Energy Transfer were worth $8,311,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Osbon Capital Management LLC bought a new stake in Energy Transfer in the second quarter valued at approximately $25,000. Sawyer & Company Inc purchased a new stake in shares of Energy Transfer in the 3rd quarter worth about $30,000. Cassaday & Co Wealth Management LLC purchased a new stake in Energy Transfer in the first quarter worth about $35,000. Financial Life Planners purchased a new position in shares of Energy Transfer in the 1st quarter valued at approximately $40,000. Finally, Bullseye Investment Management LLC bought a new stake in shares of Energy Transfer during the 2nd quarter valued at $42,000. Institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Energy Transfer from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, September 4th. Mizuho set a $26.00 price target on shares of Energy Transfer in a report on Tuesday, October 13th. Barclays restated an “overweight” rating and issued a $24.00 price target (up from $23.00) on shares of Energy Transfer in a research note on Wednesday, August 5th. Capital One Financial began coverage on shares of Energy Transfer in a report on Tuesday, September 22nd. They issued an “overweight” rating and a $26.00 price objective on the stock. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.60.

Energy Transfer Stock Up 1.5%

Shares of ET opened at $20.71 on Thursday. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $21.84. The company has a 50 day simple moving average of $20.78 and a two-hundred day simple moving average of $19.61.

Energy Transfer (NYSEAMERICAN:ET) last released its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.38 by $0.21. The company had revenue of $34.33 billion during the quarter, compared to analysts’ expectations of $27.71 billion. During the same period last year, the firm posted $0.32 EPS. Energy Transfer’s quarterly revenue was up 78.4% compared to the same quarter last year. On average, analysts forecast that Energy Transfer LP will post 1.73 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Friday, November 6th will be paid a dividend of $0.3425 per share. The ex-dividend date of this dividend is Friday, November 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.37 annualized dividend and a yield of 6.6%.

Insider Buying and Selling at Energy Transfer

In related news, Director James Perry purchased 12,359 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were acquired at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the purchase, the director directly owned 208,046 shares in the company, valued at $4,208,770.58. This trade represents a 6.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kelcy L. Warren acquired 647,968 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were bought at an average cost of $21.26 per share, with a total value of $13,775,799.68. Following the acquisition, the director directly owned 147,901,879 shares in the company, valued at approximately $3,144,393,947.54. The trade was a 0.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 1,012,359 shares of company stock valued at $21,513,543 over the last ninety days. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Company Profile

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.