Energy Transfer LP $ET Position Raised by Jones Financial Companies Lllp

Jones Financial Companies Lllp boosted its position in Energy Transfer LP (NYSE:ET) by 7.8% in the second quarter, HoldingsChannel.com reports. The firm owned 1,009,594 shares of the pipeline company’s stock after purchasing an additional 72,935 shares during the quarter. Jones Financial Companies Lllp’s holdings in Energy Transfer were worth $19,354,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Basepoint Wealth LLC acquired a new stake in shares of Energy Transfer during the 4th quarter valued at $25,000. Osbon Capital Management LLC acquired a new stake in Energy Transfer during the 2nd quarter valued at $25,000. Gables Capital Management Inc. lifted its holdings in shares of Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 600 shares in the last quarter. Sarver Vrooman Wealth Advisors acquired a new stake in shares of Energy Transfer in the fourth quarter worth $32,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Energy Transfer during the first quarter valued at $35,000. 38.22% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Energy Transfer news, Director James Richard Perry acquired 12,359 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average cost of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the acquisition, the director directly owned 208,046 shares of the company’s stock, valued at approximately $4,208,770.58. This represents a 6.32% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelcy L. Warren purchased 647,968 shares of the stock in a transaction on Wednesday, August 19th. The stock was acquired at an average price of $21.26 per share, for a total transaction of $13,775,799.68. Following the completion of the purchase, 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 position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 1,012,359 shares of company stock valued at $21,513,543. 3.28% of the stock is currently owned by insiders.

Energy Transfer Price Performance

Energy Transfer stock opened at $21.09 on Tuesday. The business’s fifty day moving average is $20.02 and its two-hundred day moving average is $19.45. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. The firm has a market cap of $72.62 billion, a P/E ratio of 14.35, a P/E/G ratio of 0.74 and a beta of 0.55. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $21.64.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.21. The business had revenue of $34.33 billion during the quarter, compared to analysts’ expectations of $27.71 billion. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The firm’s revenue for the quarter was up 78.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 earnings per share. Equities research analysts forecast that Energy Transfer LP will post 1.66 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were given a dividend of $0.34 per share. The ex-dividend date was Friday, August 7th. This represents a $1.36 annualized dividend and a dividend yield of 6.4%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio is presently 92.52%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ET shares. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Wall Street Zen upgraded shares of Energy Transfer from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded shares of Energy Transfer from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, August 11th. Zacks Research lowered Energy Transfer from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.08.

Energy Transfer Profile

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.