Lee Financial Co Acquires 151,657 Shares of Energy Transfer LP $ET

Lee Financial Co lifted its holdings in Energy Transfer LP (NYSE:ET) by 359.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 193,817 shares of the pipeline company’s stock after purchasing an additional 151,657 shares during the period. Energy Transfer accounts for about 0.4% of Lee Financial Co’s investment portfolio, making the stock its 24th biggest holding. Lee Financial Co’s holdings in Energy Transfer were worth $3,326,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. CNB Bank lifted its position in shares of Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after buying an additional 1,000 shares during the last quarter. HHM Wealth Advisors LLC increased its holdings in shares of Energy Transfer by 54.4% during the 2nd quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 800 shares during the last quarter. Core Alternative Capital acquired a new position in shares of Energy Transfer during the 3rd quarter valued at about $46,000. FSC Wealth Advisors LLC bought a new position in shares of Energy Transfer in the 2nd quarter valued at approximately $50,000. Finally, Golden State Wealth Management LLC lifted its holdings in Energy Transfer by 38.9% in the 3rd quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock worth $50,000 after purchasing an additional 817 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on ET shares. JPMorgan Chase & Co. lowered their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Jefferies Financial Group set a $17.00 target price on shares of Energy Transfer and gave the stock a “hold” rating in a report on Tuesday, October 28th. Barclays restated an “overweight” rating and set a $22.00 price target (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. Finally, Morgan Stanley lowered their price target on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 2nd. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $18.42 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.41 and a quick ratio of 1.14. The company has a market cap of $63.24 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 0.97 and a beta of 0.66. The firm has a fifty day moving average price of $16.88 and a two-hundred day moving average price of $17.09. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.16.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 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 for the quarter, compared to analyst estimates of $21.84 billion. During the same period in the prior year, the company posted $0.32 EPS. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. Analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Friday, February 6th will be given a $0.335 dividend. The ex-dividend date is Friday, February 6th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 7.3%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is 106.40%.

Insider Buying and Selling at Energy Transfer

In other news, Director Kelcy L. Warren acquired 1,000,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were acquired at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the transaction, the director owned 104,577,803 shares in the company, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.28% of the company’s stock.

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.