Patient Capital Management LLC Acquires 811,782 Shares of Energy Transfer LP $ET

Patient Capital Management LLC raised its holdings in Energy Transfer LP (NYSE:ET) by 19.9% during the third quarter, Holdings Channel.com reports. The fund owned 4,888,138 shares of the pipeline company’s stock after purchasing an additional 811,782 shares during the period. Energy Transfer comprises about 3.4% of Patient Capital Management LLC’s holdings, making the stock its 13th largest holding. Patient Capital Management LLC’s holdings in Energy Transfer were worth $83,880,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Energy Transfer by 93.4% in the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after purchasing an additional 11,844 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Energy Transfer by 62.8% in the 1st quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock valued at $391,000 after acquiring an additional 8,118 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Energy Transfer by 68.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 76,601 shares of the pipeline company’s stock valued at $1,389,000 after acquiring an additional 31,094 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of Energy Transfer by 57.1% in the 2nd quarter. Park Avenue Securities LLC now owns 27,222 shares of the pipeline company’s stock valued at $494,000 after acquiring an additional 9,898 shares during the period. Finally, Clear Harbor Asset Management LLC boosted its stake in Energy Transfer by 52.6% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 42,759 shares of the pipeline company’s stock worth $775,000 after acquiring an additional 14,734 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ET. Barclays reiterated an “overweight” rating and issued a $22.00 target price (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. JPMorgan Chase & Co. reduced their target price on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. Royal Bank Of Canada upgraded Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Morgan Stanley cut their price objective on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, December 2nd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Energy Transfer in a research note on Wednesday, December 24th. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren acquired 1,000,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were bought at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the purchase, the director directly owned 104,577,803 shares in the company, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.28% of the stock is owned by company insiders.

Energy Transfer Stock Up 0.5%

Energy Transfer stock opened at $17.44 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The company has a fifty day simple moving average of $16.67 and a 200 day simple moving average of $17.06. The company has a market cap of $59.86 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 0.90 and a beta of 0.66.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.06). The business had revenue of $19.95 billion for the quarter, compared to the consensus estimate of $21.84 billion. Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. Research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were paid a $0.3325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date was Friday, November 7th. Energy Transfer’s dividend payout ratio is 106.40%.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.