Energy Transfer LP $ET Shares Bought by Tectonic Advisors LLC

Tectonic Advisors LLC boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 9.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 671,069 shares of the pipeline company’s stock after purchasing an additional 60,567 shares during the quarter. Tectonic Advisors LLC’s holdings in Energy Transfer were worth $11,516,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after buying an additional 11,844 shares in the last quarter. Charles Schwab Investment Management Inc. acquired a new position in Energy Transfer during the first quarter worth $204,000. OLD Mission Capital LLC acquired a new position in Energy Transfer during the first quarter worth $428,000. Baird Financial Group Inc. lifted its holdings in Energy Transfer by 42.1% during the first quarter. Baird Financial Group Inc. now owns 32,074 shares of the pipeline company’s stock valued at $596,000 after purchasing an additional 9,500 shares in the last quarter. Finally, First Manhattan CO. LLC. acquired a new stake in shares of Energy Transfer in the first quarter valued at about $998,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Trading Down 0.2%

ET opened at $16.50 on Friday. The firm has a market capitalization of $56.65 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 0.99 and a beta of 0.66. The company’s 50 day simple moving average is $16.61 and its two-hundred day simple moving average is $17.15. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.41 and a quick ratio of 1.14.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The company had revenue of $19.95 billion during the quarter, compared to analysts’ expectations of $21.84 billion. During the same quarter last year, the company earned $0.32 earnings per share. Energy Transfer’s revenue for the quarter was down 3.9% on a year-over-year basis. Analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Friday, November 7th were issued a dividend of $0.3325 per share. The ex-dividend date was Friday, November 7th. This represents a $1.33 annualized dividend and a dividend yield of 8.1%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is presently 106.40%.

Wall Street Analyst Weigh In

ET has been the subject of a number of research reports. Morgan Stanley cut their target price on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, December 2nd. UBS Group reiterated a “buy” rating and issued a $22.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. Scotiabank reduced their target price on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a report on Thursday, November 13th. Royal Bank Of Canada upgraded Energy Transfer to a “moderate buy” rating in a research report on Monday, December 15th. Finally, JPMorgan Chase & Co. dropped their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Monday, November 24th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus price target of $21.75.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren purchased 1,000,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were purchased at an average price of $16.95 per share, with a total value of $16,950,000.00. Following the transaction, the director owned 104,577,803 shares in the company, valued at $1,772,593,760.85. The trade was a 0.97% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.28% of the stock is currently owned by corporate insiders.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.