Energy Transfer LP $ET Shares Bought by Thompson Davis & CO. Inc.

Thompson Davis & CO. Inc. increased its position in Energy Transfer LP (NYSE:ET) by 108.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,877 shares of the pipeline company’s stock after buying an additional 11,377 shares during the quarter. Thompson Davis & CO. Inc.’s holdings in Energy Transfer were worth $397,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. acquired a new position in shares of Energy Transfer in the 2nd quarter valued at about $31,000. Vision Financial Markets LLC purchased a new position in Energy Transfer in the first quarter valued at approximately $33,000. CNB Bank lifted its position in Energy Transfer by 111.1% during the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after buying an additional 1,000 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in Energy Transfer during the first quarter worth approximately $38,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Energy Transfer in the first quarter worth $40,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET opened at $16.57 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The business’s 50 day moving average is $16.98 and its two-hundred day moving average is $17.40. The firm has a market cap of $56.89 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.01 and a beta of 0.76. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.06). The company had revenue of $19.95 billion for the quarter, compared to analyst estimates of $21.84 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.Energy Transfer’s revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 earnings per share. Analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th will be paid a dividend of $0.3325 per share. The ex-dividend date 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 payout ratio is currently 106.40%.

Insider Buying and Selling

In other news, Director Kelcy L. Warren bought 1,350,000 shares of Energy Transfer stock in a transaction on Wednesday, August 20th. The shares were bought at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the acquisition, the director directly owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This represents a 1.99% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.28% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ET has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. Barclays restated an “overweight” rating and set a $25.00 price objective on shares of Energy Transfer in a research note on Wednesday, October 15th. UBS Group reiterated a “buy” rating and issued a $22.00 target price on shares of Energy Transfer in a research note on Wednesday, October 15th. Jefferies Financial Group set a $17.00 target price on Energy Transfer and gave the company a “hold” rating in a report on Tuesday, October 28th. Finally, Scotiabank began coverage on Energy Transfer in a report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 price target for the company. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.23.

Energy Transfer 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.