50,942 Shares of Energy Transfer LP $ET Bought by Ulrich Consultants & Investment Group LLC

Ulrich Consultants & Investment Group LLC purchased a new position in shares of Energy Transfer LP (NYSEAMERICAN:ET) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 50,942 shares of the pipeline company’s stock, valued at approximately $1,007,000. Energy Transfer accounts for about 1.0% of Ulrich Consultants & Investment Group LLC’s investment portfolio, making the stock its 14th largest position.

Other large investors have also made changes to their positions in the company. Arrow Investment Advisors LLC grew its holdings in shares of Energy Transfer by 4.9% during the 2nd quarter. Arrow Investment Advisors LLC now owns 10,866 shares of the pipeline company’s stock worth $208,000 after purchasing an additional 505 shares during the period. Cypress Capital Management LLC WY lifted its holdings in shares of Energy Transfer by 3.9% during the 2nd quarter. Cypress Capital Management LLC WY now owns 13,439 shares of the pipeline company’s stock valued at $257,000 after acquiring an additional 509 shares in the last quarter. Argent Trust Co raised its position in Energy Transfer by 2.1% in the second quarter. Argent Trust Co now owns 26,035 shares of the pipeline company’s stock valued at $498,000 after purchasing an additional 529 shares during the period. State of Wyoming lifted its stake in shares of Energy Transfer by 2.5% during the second quarter. State of Wyoming now owns 22,822 shares of the pipeline company’s stock worth $436,000 after purchasing an additional 548 shares in the last quarter. Finally, Keybank National Association OH raised its holdings in shares of Energy Transfer by 0.3% during the 1st quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock valued at $4,231,000 after buying an additional 556 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Energy Transfer news, Director Kelcy Warren purchased 647,968 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were purchased at an average cost of $21.26 per share, with a total value of $13,775,799.68. Following the completion of the transaction, the director owned 147,901,879 shares of the company’s stock, valued at approximately $3,144,393,947.54. This represents a 0.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Perry purchased 12,359 shares of Energy Transfer stock in a transaction dated Friday, August 7th. The stock was bought at an average cost of $20.23 per share, with a total value of $250,022.57. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 1,012,359 shares of company stock worth $21,513,543 in the last quarter. 3.28% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ET. JPMorgan Chase & Co. upped their target price on shares of Energy Transfer from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, September 4th. Wall Street Zen raised shares of Energy Transfer from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Truist Financial lifted 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. Morgan Stanley boosted their price target on Energy Transfer from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday, August 18th. Finally, Mizuho set a $26.00 target price on shares of Energy Transfer in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $24.60.

Energy Transfer Stock Performance

ET stock opened at $20.48 on Wednesday. The company has a 50-day simple moving average of $20.91 and a 200 day simple moving average of $20.02. The company has a market capitalization of $70.52 billion, a P/E ratio of 13.93 and a beta of 0.60. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $21.84.

Energy Transfer (NYSEAMERICAN:ET) last announced its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.21. The business had revenue of $34.33 billion during the quarter, compared to analyst estimates of $27.71 billion. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%. The company’s revenue was up 78.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. Sell-side analysts predict that Energy Transfer LP will post 1.73 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. Shareholders of record on Friday, August 7th were paid a dividend of $0.34 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.3375. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.36 annualized dividend and a yield of 6.6%. Energy Transfer’s dividend payout ratio (DPR) is presently 92.52%.

About Energy Transfer

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.