SG Americas Securities LLC Purchases 554,281 Shares of Energy Transfer LP $ET

SG Americas Securities LLC grew its position in Energy Transfer LP (NYSE:ET) by 455.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 675,873 shares of the pipeline company’s stock after purchasing an additional 554,281 shares during the quarter. SG Americas Securities LLC’s holdings in Energy Transfer were worth $11,598,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ET. Chelsea Counsel Co. boosted its position in shares of Energy Transfer by 370.3% during the 2nd quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company’s stock valued at $1,705,000 after purchasing an additional 74,050 shares in the last quarter. Ariston Services Group increased its holdings in Energy Transfer by 126.7% in the second quarter. Ariston Services Group now owns 100,683 shares of the pipeline company’s stock worth $1,825,000 after purchasing an additional 56,274 shares in the last quarter. Highland Capital Management LLC acquired a new position in Energy Transfer in the second quarter valued at approximately $930,000. Focus Partners Wealth boosted its holdings in shares of Energy Transfer by 11.9% during the 1st quarter. Focus Partners Wealth now owns 275,698 shares of the pipeline company’s stock worth $5,125,000 after buying an additional 29,404 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in shares of Energy Transfer by 223.7% during the 2nd quarter. Corient Private Wealth LLC now owns 1,690,771 shares of the pipeline company’s stock worth $30,654,000 after buying an additional 1,168,440 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Jefferies Financial Group set a $17.00 price objective on shares of Energy Transfer and gave the company a “hold” rating in a research note on Tuesday, October 28th. Scotiabank reduced their price target on shares of Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a report on Thursday, November 13th. Barclays reaffirmed an “overweight” rating and issued a $25.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Wednesday. Finally, Morgan Stanley reduced their target price on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, December 2nd. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.

Insider Activity at Energy Transfer

In related news, Director Kelcy L. Warren acquired 1,000,000 shares of the stock in a transaction dated Wednesday, November 19th. The stock was purchased at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the purchase, the director directly owned 104,577,803 shares in the company, valued at $1,772,593,760.85. This trade represents a 0.97% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.28% of the stock is currently owned by company insiders.

Energy Transfer Stock Performance

ET opened at $16.97 on Friday. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The company has a market cap of $58.25 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 0.88 and a beta of 0.66. The company’s fifty day moving average price is $16.58 and its two-hundred day moving average price is $17.10. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data 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 business had revenue of $19.95 billion for the quarter, compared to analyst estimates of $21.84 billion. During the same quarter in the prior year, the business earned $0.32 earnings per share. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were issued a dividend of $0.3325 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.33 dividend on an annualized basis and a yield of 7.8%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is presently 106.40%.

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.