51,708 Shares in Energy Transfer LP $ET Purchased by McAlvany Wealth Management LLC

McAlvany Wealth Management LLC acquired a new stake in Energy Transfer LP (NYSEAMERICAN:ET) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 51,708 shares of the pipeline company’s stock, valued at approximately $1,022,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of America Corp DE grew its position in shares of Energy Transfer by 5.7% during the first quarter. Bank of America Corp DE now owns 30,956,358 shares of the pipeline company’s stock worth $597,458,000 after buying an additional 1,656,609 shares in the last quarter. Energy Income Partners LLC boosted its stake in shares of Energy Transfer by 1.8% during the second quarter. Energy Income Partners LLC now owns 25,654,536 shares of the pipeline company’s stock worth $490,515,000 after buying an additional 447,081 shares during the period. Miller Howard Investments Inc. NY raised its stake in Energy Transfer by 6.9% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 5,679,174 shares of the pipeline company’s stock valued at $112,277,000 after acquiring an additional 364,190 shares during the last quarter. Recurrent Investment Advisors LLC lifted its position in Energy Transfer by 3.9% during the 1st quarter. Recurrent Investment Advisors LLC now owns 5,562,381 shares of the pipeline company’s stock worth $107,354,000 after acquiring an additional 211,026 shares during the period. Finally, BlackRock Inc. lifted its position in Energy Transfer by 0.4% during the 2nd quarter. BlackRock Inc. now owns 4,017,925 shares of the pipeline company’s stock worth $76,823,000 after acquiring an additional 16,926 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Energy Transfer Price Performance

Shares of NYSEAMERICAN:ET opened at $20.34 on Tuesday. The business has a fifty day simple moving average of $20.75 and a 200-day simple moving average of $19.66. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $21.84. The company has a market cap of $70.04 billion, a P/E ratio of 13.84, a P/E/G ratio of 0.72 and a beta of 0.60. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45.

Energy Transfer (NYSEAMERICAN:ET) last released its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The business had revenue of $34.33 billion for the quarter, compared to analysts’ expectations of $27.71 billion. During the same period last year, the company earned $0.32 earnings per share. The company’s quarterly revenue was up 78.4% on a year-over-year basis. Equities research analysts forecast that Energy Transfer LP will post 1.73 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Friday, November 6th will be paid a dividend of $0.3425 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.37 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend is Friday, November 6th. Energy Transfer’s payout ratio is 92.52%.

Wall Street Analyst Weigh In

ET has been the subject of several analyst reports. Melius Research initiated coverage on shares of Energy Transfer in a report on Tuesday, September 22nd. They set a “hold” rating and a $25.00 price target for the company. Zacks Research downgraded Energy Transfer from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Truist Financial increased their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, August 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. Finally, Capital One Financial assumed coverage on Energy Transfer in a research note on Tuesday, September 22nd. They set an “overweight” rating and a $26.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus target price of $24.60.

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.