Pure Financial Advisors LLC Increases Stake in Energy Transfer LP $ET

Pure Financial Advisors LLC grew its position in shares of Energy Transfer LP (NYSE:ET) by 11.6% in the second quarter, Holdings Channel reports. The institutional investor owned 27,310 shares of the pipeline company’s stock after buying an additional 2,837 shares during the period. Pure Financial Advisors LLC’s holdings in Energy Transfer were worth $495,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Newman Dignan & Sheerar Inc. purchased a new position in Energy Transfer during the 2nd quarter worth $271,000. Founders Capital Management raised its position in Energy Transfer by 25.8% during the 2nd quarter. Founders Capital Management now owns 5,272 shares of the pipeline company’s stock worth $96,000 after buying an additional 1,080 shares during the last quarter. Chelsea Counsel Co. raised its position in Energy Transfer by 370.3% during the 2nd quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company’s stock worth $1,705,000 after buying an additional 74,050 shares during the last quarter. Consolidated Portfolio Review Corp raised its position in Energy Transfer by 4.5% during the 2nd quarter. Consolidated Portfolio Review Corp now owns 35,915 shares of the pipeline company’s stock worth $651,000 after buying an additional 1,552 shares during the last quarter. Finally, First United Bank & Trust raised its position in Energy Transfer by 2.4% during the 2nd quarter. First United Bank & Trust now owns 38,431 shares of the pipeline company’s stock worth $697,000 after buying an additional 890 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Down 0.5%

Shares of NYSE ET opened at $16.83 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The firm has a 50-day moving average price of $17.47 and a 200 day moving average price of $17.55. The stock has a market capitalization of $57.78 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $19.24 billion during the quarter, compared to analysts’ expectations of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 earnings per share. Equities research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were given a dividend of $0.33 per share. The ex-dividend date was Friday, August 8th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a yield of 7.8%. Energy Transfer’s dividend payout ratio (DPR) is presently 102.33%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wells Fargo & Company restated an “overweight” rating and set a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Scotiabank started coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price objective for the company. Morgan Stanley cut their price target on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating for the company. Finally, TD Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating and a $22.00 price objective for the company. Fourteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was bought at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the transaction, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.28% of the company’s stock.

About Energy Transfer

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.