Diversify Advisory Services LLC Increases Stock Position in Energy Transfer LP $ET

Diversify Advisory Services LLC grew its holdings in shares of Energy Transfer LP (NYSE:ET) by 91.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 99,789 shares of the pipeline company’s stock after buying an additional 47,587 shares during the period. Diversify Advisory Services LLC’s holdings in Energy Transfer were worth $1,987,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ET. Texas Yale Capital Corp. grew its holdings in shares of Energy Transfer by 6.1% during the fourth quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company’s stock valued at $21,634,000 after buying an additional 75,700 shares during the last quarter. North Star Investment Management Corp. increased its position in Energy Transfer by 100.1% during the fourth quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company’s stock valued at $2,664,000 after acquiring an additional 80,786 shares during the last quarter. Summit Securities Group LLC boosted its position in Energy Transfer by 179.0% in the first quarter. Summit Securities Group LLC now owns 162,100 shares of the pipeline company’s stock worth $3,129,000 after purchasing an additional 104,000 shares during the last quarter. Mizuho Markets Americas LLC purchased a new position in shares of Energy Transfer during the 1st quarter worth $61,760,000. Finally, Sanctuary Advisors LLC grew its stake in shares of Energy Transfer by 15.8% during the 1st quarter. Sanctuary Advisors LLC now owns 1,888,661 shares of the pipeline company’s stock valued at $36,451,000 after acquiring an additional 257,954 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Energy Transfer

In other news, Director James Richard Perry purchased 12,359 shares of the business’s stock in a transaction on Friday, August 7th. The shares were acquired at an average cost of $20.23 per share, with a total value of $250,022.57. Following the completion of the acquisition, the director owned 208,046 shares of the company’s stock, valued at $4,208,770.58. This trade represents a 6.32% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Price Performance

ET opened at $21.41 on Wednesday. The firm has a market capitalization of $73.74 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 0.75 and a beta of 0.55. 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 business’s 50-day moving average is $19.84 and its two-hundred day moving average is $19.37. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $21.43.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, beating 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 business had revenue of $34.33 billion during the quarter, compared to analyst estimates of $27.71 billion. During the same period in the prior year, the firm posted $0.32 earnings per share. The company’s quarterly revenue was up 78.4% on a year-over-year basis. Research analysts anticipate that Energy Transfer LP will post 1.63 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 6.4%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, August 7th. Energy Transfer’s payout ratio is 92.52%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Truist Financial boosted their price objective on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Scotiabank reissued an “outperform” rating on shares of Energy Transfer 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. Weiss Ratings raised shares of Energy Transfer from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, August 11th. Finally, Zacks Research downgraded shares of Energy Transfer from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. One research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.08.

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.