Tectonic Advisors LLC Has $11.07 Million Stake in Energy Transfer LP $ET

Tectonic Advisors LLC grew its position in Energy Transfer LP (NYSE:ET) by 10.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 610,502 shares of the pipeline company’s stock after purchasing an additional 59,791 shares during the period. Tectonic Advisors LLC’s holdings in Energy Transfer were worth $11,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ET. Ryan Investment Management Inc. bought a new stake in Energy Transfer during the second quarter worth $31,000. Vision Financial Markets LLC bought a new stake in Energy Transfer during the first quarter worth $33,000. HWG Holdings LP bought a new stake in Energy Transfer during the first quarter worth $38,000. Stone House Investment Management LLC bought a new stake in Energy Transfer during the first quarter worth $38,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Energy Transfer during the first quarter worth $40,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ET shares. TD Cowen started coverage on Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating and a $22.00 target price for the company. Morgan Stanley dropped their price target on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday. Scotiabank assumed coverage on Energy Transfer in a research note on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 price target for the company. Finally, Cowen assumed coverage on Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating for the company. Fourteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Energy Transfer Stock Up 0.2%

Shares of NYSE:ET opened at $16.70 on Thursday. The firm has a market cap of $57.33 billion, a P/E ratio of 12.95, a P/E/G ratio of 0.98 and a beta of 0.78. 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 12-month low of $14.60 and a 12-month high of $21.45. The business has a fifty day simple moving average of $17.39 and a 200 day simple moving average of $17.50.

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 the consensus estimate of $0.32. The business had revenue of $19.24 billion during the quarter, compared to analyst estimates of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.Energy Transfer’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period last year, the company earned $0.35 EPS. Analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.32 annualized dividend and a yield of 7.9%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is 102.33%.

Insider Transactions at Energy Transfer

In related news, Director Kelcy L. Warren bought 1,350,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the transaction, the director directly owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Company Profile

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.