Triad Wealth Partners LLC Invests $804,000 in Energy Transfer LP $ET

Triad Wealth Partners LLC purchased a new position in Energy Transfer LP (NYSE:ET) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 46,875 shares of the pipeline company’s stock, valued at approximately $804,000.

Other hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Energy Transfer by 9.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,353,476 shares of the pipeline company’s stock valued at $387,139,000 after buying an additional 1,825,391 shares during the last quarter. Jump Financial LLC increased its stake in shares of Energy Transfer by 2,687.9% in the second quarter. Jump Financial LLC now owns 1,791,358 shares of the pipeline company’s stock worth $32,477,000 after buying an additional 1,727,104 shares during the last quarter. Corient Private Wealth LLC raised its holdings in Energy Transfer by 223.7% in the second quarter. Corient Private Wealth LLC now owns 1,690,771 shares of the pipeline company’s stock valued at $30,654,000 after acquiring an additional 1,168,440 shares in the last quarter. Annandale Capital LLC boosted its stake in Energy Transfer by 242.1% during the 2nd quarter. Annandale Capital LLC now owns 637,479 shares of the pipeline company’s stock valued at $11,557,000 after acquiring an additional 1,086,117 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in Energy Transfer by 14.3% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 8,211,600 shares of the pipeline company’s stock worth $140,911,000 after acquiring an additional 1,029,000 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ET shares. Jefferies Financial Group set a $17.00 target price on shares of Energy Transfer and gave the company a “hold” rating in a research note on Tuesday, October 28th. Morgan Stanley lowered their price objective on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, December 2nd. Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Barclays reiterated an “overweight” rating and issued a $22.00 target price (down previously from $25.00) on shares of Energy Transfer in a research report on Monday, January 12th. Finally, Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.50.

Energy Transfer Stock Up 2.4%

NYSE:ET opened at $18.08 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50. The stock has a 50 day moving average of $16.72 and a 200-day moving average of $17.07. The firm has a market capitalization of $62.08 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.92 and a beta of 0.66. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.27.

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

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Friday, November 7th were given 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 annualized dividend and a dividend yield of 7.4%. The ex-dividend date was Friday, November 7th. Energy Transfer’s payout ratio is currently 106.40%.

Insider Buying and Selling at Energy Transfer

In other news, Director Kelcy L. Warren acquired 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were purchased at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the transaction, the director directly owned 104,577,803 shares in the company, valued at $1,772,593,760.85. This trade represents a 0.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.28% of the stock is currently owned by company insiders.

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.