Energy Transfer LP $ET Stock Position Lifted by NewEdge Advisors LLC

NewEdge Advisors LLC raised its stake in shares of Energy Transfer LP (NYSE:ET) by 7.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 928,614 shares of the pipeline company’s stock after purchasing an additional 68,207 shares during the period. NewEdge Advisors LLC’s holdings in Energy Transfer were worth $17,755,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Texas Yale Capital Corp. raised its position in 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 acquiring an additional 75,700 shares in the last quarter. Summit Securities Group LLC increased its stake in shares of Energy Transfer by 179.0% during the 1st 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. North Star Investment Management Corp. increased its stake in shares of Energy Transfer by 39.0% during the 1st quarter. North Star Investment Management Corp. now owns 224,439 shares of the pipeline company’s stock worth $4,332,000 after purchasing an additional 62,916 shares during the last quarter. Mizuho Markets Americas LLC bought a new position in shares of Energy Transfer during the 1st quarter valued at $61,760,000. Finally, Sanctuary Advisors LLC raised its holdings 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 purchasing an additional 257,954 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Energy Transfer news, Director James Perry purchased 12,359 shares of the company’s stock in a transaction on Friday, August 7th. The shares were bought at an average cost of $20.23 per share, with a total value of $250,022.57. Following the transaction, the director directly owned 208,046 shares in the company, valued at approximately $4,208,770.58. This represents a 6.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kelcy L. Warren purchased 647,968 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was acquired at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the completion of the transaction, the director owned 147,901,879 shares in the company, valued at approximately $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 have purchased a total of 1,012,359 shares of company stock valued at $21,513,543 in the last three months. 3.28% of the stock is owned by insiders.

Energy Transfer News Summary

Here are the key news stories impacting Energy Transfer this week:

• Positive Sentiment: Stifel Nicolaus initiated coverage with a Buy rating and a $25 price target, implying approximately 15% upside from the recently reported trading level. The new bullish coverage may support investor confidence. Benzinga coverage
• Positive Sentiment: Rising energy prices have helped lift sentiment toward Energy Transfer, while expectations for expanding natural-gas-liquids exports and new gas-fired power demand reinforce the company’s growth outlook. What’s next for the soaring Energy Transfer stock?
• Positive Sentiment: Analysts continue to highlight Energy Transfer’s multiyear project backlog, projected double-digit EBITDA growth and secure distribution yield. The company’s payout is reportedly covered roughly twice by cash flow, strengthening its appeal as an income investment, although higher capital spending could limit distribution growth to the lower end of management’s 3%–5% range. Energy Transfer growth outlook Energy Transfer payout coverage
• Neutral Sentiment: Energy Transfer will move its common-unit listing from the New York Stock Exchange to the Texas Stock Exchange, with trading expected to begin October 5 under the existing ET ticker. The move may increase visibility and align the partnership with its Texas roots, but it does not immediately change the company’s operations or cash flows. Energy Transfer Texas Stock Exchange listing
• Neutral Sentiment: Brokerage sentiment remains favorable overall, with Energy Transfer receiving an average “Moderate Buy” recommendation. Energy Transfer analyst recommendations

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ET shares. Barclays reaffirmed an “overweight” rating and issued a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research note on Wednesday, August 5th. Jefferies Financial Group restated a “buy” rating on shares of Energy Transfer in a report on Wednesday, August 5th. Wall Street Zen upgraded Energy Transfer from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Truist Financial upped their price target on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Energy Transfer presently has a consensus rating of “Buy” and an average price target of $24.17.

Energy Transfer Price Performance

NYSE ET opened at $21.73 on Friday. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $21.84. The company has a fifty day simple moving average of $20.66 and a 200 day simple moving average of $19.72. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45. The company has a market cap of $74.84 billion, a P/E ratio of 14.79, a P/E/G ratio of 0.73 and a beta of 0.57.

Energy Transfer (NYSE:ET) last announced its 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. The firm had revenue of $34.33 billion for the quarter, compared to the consensus estimate of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The business’s quarterly revenue was up 78.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 EPS. On average, sell-side analysts predict that Energy Transfer LP will post 1.71 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were paid a $0.34 dividend. The ex-dividend date was Friday, August 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.3%. Energy Transfer’s dividend payout ratio is presently 92.52%.

About Energy Transfer

Energy Transfer LP (NYSE: ET) is a diversified midstream energy partnership that owns and operates infrastructure used to transport, store, process and market energy commodities. Its assets support the movement of natural gas, crude oil, natural gas liquids (NGLs), refined products and other hydrocarbon-based materials.

The company’s operations include natural gas gathering and processing, interstate and intrastate pipeline transportation, NGL fractionation and storage, crude oil and refined products transportation, and terminal services.