Sovran Advisors LLC Buys Shares of 40,274 Energy Transfer LP $ET

Sovran Advisors LLC purchased a new position in Energy Transfer LP (NYSE:ET) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,274 shares of the pipeline company’s stock, valued at approximately $675,000.

A number of other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 worth $387,139,000 after acquiring an additional 1,825,391 shares during the period. Jump Financial LLC grew its position in shares of Energy Transfer by 2,687.9% during the 2nd quarter. Jump Financial LLC now owns 1,791,358 shares of the pipeline company’s stock valued at $32,477,000 after purchasing an additional 1,727,104 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of 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 worth $30,654,000 after purchasing an additional 1,168,440 shares during the period. Annandale Capital LLC raised its position in shares of Energy Transfer by 242.1% in the second quarter. Annandale Capital LLC now owns 637,479 shares of the pipeline company’s stock worth $11,557,000 after buying an additional 1,086,117 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of Energy Transfer by 14.3% in the third 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 buying an additional 1,029,000 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Energy Transfer Stock Performance

NYSE:ET opened at $17.93 on Wednesday. The company has a market capitalization of $61.56 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 0.94 and a beta of 0.66. The business has a 50 day moving average of $16.78 and a 200 day moving average of $17.07. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.41 and a quick ratio of 1.14. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.16.

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 analysts’ consensus estimates 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 net margin of 5.66% and a return on equity of 10.71%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 earnings per share. On average, sell-side analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Friday, February 6th will be paid a $0.335 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend is Friday, February 6th. Energy Transfer’s payout ratio is presently 106.40%.

Wall Street Analyst Weigh In

Several research firms recently commented on ET. Morgan Stanley reduced their target price on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, December 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Energy Transfer in a research report on Wednesday, December 24th. JPMorgan Chase & Co. cut their price objective on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, November 24th. 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. Finally, Barclays reiterated an “overweight” rating and set a $22.00 target price (down from $25.00) on shares of Energy Transfer in a research report on Monday, January 12th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and an average price target of $21.50.

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.