Energy Transfer LP $ET Shares Purchased by Centaurus Financial Inc.

Centaurus Financial Inc. raised its position in Energy Transfer LP (NYSE:ET) by 173.7% in the second quarter, Holdings Channel reports. The fund owned 40,727 shares of the pipeline company’s stock after buying an additional 25,847 shares during the period. Centaurus Financial Inc.’s holdings in Energy Transfer were worth $779,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in shares of Energy Transfer in the 2nd quarter valued at approximately $203,000. Corient Private Wealth LP lifted its position in shares of Energy Transfer by 7.8% during the 2nd quarter. Corient Private Wealth LP now owns 1,868,875 shares of the pipeline company’s stock worth $35,733,000 after purchasing an additional 135,275 shares during the last quarter. Western Wealth Management LLC lifted its position in shares of Energy Transfer by 1.1% during the 2nd quarter. Western Wealth Management LLC now owns 87,271 shares of the pipeline company’s stock worth $1,669,000 after purchasing an additional 943 shares during the last quarter. First Bancorp Inc ME purchased a new stake in shares of Energy Transfer during the 2nd quarter worth $194,000. Finally, Valtrion Capital Management LLC grew its stake in shares of Energy Transfer by 8.5% during the second quarter. Valtrion Capital Management LLC now owns 17,079 shares of the pipeline company’s stock worth $327,000 after purchasing an additional 1,337 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ET shares. Weiss Ratings lowered Energy Transfer from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. JPMorgan Chase & Co. upped their price objective on Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $24.08.

Insider Activity

In other news, Director James Richard Perry purchased 12,359 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the purchase, the director directly owned 208,046 shares of the company’s stock, valued at $4,208,770.58. This represents a 6.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kelcy L. Warren purchased 647,968 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were purchased at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the transaction, the director owned 147,901,879 shares of the company’s stock, valued at $3,144,393,947.54. This trade represents a 0.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 1,012,359 shares of company stock valued at $21,513,543 over the last three months. Company insiders own 3.28% of the company’s stock.

Energy Transfer Trading Down 0.4%

NYSE ET opened at $21.30 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94. The firm’s fifty day moving average price is $20.22 and its 200 day moving average price is $19.52. The company has a market capitalization of $73.34 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 0.75 and a beta of 0.55. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $21.64.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The firm had revenue of $34.33 billion for the quarter, compared to analyst estimates of $27.71 billion. During the same period last year, the business earned $0.32 EPS. Energy Transfer’s revenue for the quarter was up 78.4% compared to the same quarter last year. On average, sell-side analysts expect that Energy Transfer LP will post 1.66 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend was Friday, August 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio (DPR) is presently 92.52%.

Energy Transfer Company Profile

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.