58,741 Shares in Energy Transfer LP $ET Acquired by Claro Advisors LLC

Claro Advisors LLC purchased a new position in shares of Energy Transfer LP (NYSE:ET) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 58,741 shares of the pipeline company’s stock, valued at approximately $1,065,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ET. Kingstone Capital Partners Texas LLC purchased a new position in Energy Transfer in the second quarter valued at approximately $168,917,000. Alps Advisors Inc. increased its position in shares of Energy Transfer by 12.9% in the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company’s stock worth $1,400,831,000 after acquiring an additional 8,613,645 shares in the last quarter. Commerce Bank purchased a new position in shares of Energy Transfer in the 1st quarter valued at $92,607,000. Energy Income Partners LLC lifted its holdings in shares of Energy Transfer by 12.0% during the 1st quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company’s stock valued at $429,802,000 after acquiring an additional 2,471,401 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Energy Transfer during the 1st quarter worth $44,876,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on ET shares. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Wells Fargo & Company reaffirmed an “overweight” rating and issued 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 note on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price objective on the stock. Barclays restated an “overweight” rating and issued a $25.00 target price on shares of Energy Transfer in a research note on Wednesday, October 15th. Finally, UBS Group reaffirmed a “buy” rating and set a $22.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.23.

Insider Transactions at Energy Transfer

In related news, Director Kelcy L. Warren acquired 1,350,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was acquired at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the acquisition, the director directly owned 69,178,477 shares of the company’s stock, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.28% of the stock is owned by corporate insiders.

Energy Transfer Stock Performance

Shares of ET stock opened at $16.57 on Wednesday. The company has a market cap of $56.86 billion, a P/E ratio of 12.84, a PEG ratio of 1.01 and a beta of 0.76. The business has a 50 day moving average of $17.09 and a two-hundred day moving average of $17.42. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. 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 (NYSE:ET) last issued its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The firm had revenue of $19.24 billion during the quarter, compared to the consensus estimate of $24.07 billion. During the same period in the prior year, the business earned $0.35 EPS. The firm’s revenue was down 7.2% on a year-over-year basis. As a group, analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Friday, November 7th will be issued a $0.3325 dividend. The ex-dividend date of this dividend is Friday, November 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 annualized dividend and a yield of 8.0%. Energy Transfer’s dividend payout ratio is currently 103.10%.

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.