Energy Transfer LP $ET Stock: Oppenheimer & Co. Inc. Raises Position

Oppenheimer & Co. Inc. boosted its holdings in shares of Energy Transfer LP (NYSEAMERICAN:ET) by 11.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 420,370 shares of the pipeline company’s stock after buying an additional 42,042 shares during the period. Oppenheimer & Co. Inc.’s holdings in Energy Transfer were worth $8,311,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Osbon Capital Management LLC purchased a new stake in shares of Energy Transfer in the 2nd quarter valued at about $25,000. Sawyer & Company Inc bought a new stake in shares of Energy Transfer during the 3rd quarter valued at about $30,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Energy Transfer during the 1st quarter valued at about $35,000. Financial Life Planners bought a new stake in shares of Energy Transfer during the 1st quarter valued at about $40,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Energy Transfer during the second quarter worth about $42,000. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup restated a “buy” rating and issued a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research report on Friday, August 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, July 21st. Barclays reiterated an “overweight” rating and set a $24.00 target price (up from $23.00) on shares of Energy Transfer in a research report on Wednesday, August 5th. Capital One Financial assumed coverage on shares of Energy Transfer in a research note on Tuesday, September 22nd. They issued an “overweight” rating and a $26.00 price target for the company. Finally, TD Cowen reissued a “buy” rating and issued a $25.00 price target (up from $24.00) on shares of Energy Transfer in a report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.60.

Energy Transfer Stock Up 1.5%

Shares of ET stock opened at $20.71 on Thursday. The business has a 50-day moving average price of $20.78 and a two-hundred day moving average price of $19.61. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $21.84.

Energy Transfer (NYSEAMERICAN:ET) last posted its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.21. The firm had revenue of $34.33 billion during the quarter, compared to analysts’ expectations of $27.71 billion. Energy Transfer’s revenue for the quarter was up 78.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 earnings per share. On average, sell-side analysts forecast that Energy Transfer LP will post 1.73 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Friday, November 6th will be given a $0.3425 dividend. This represents a $1.37 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Friday, November 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34.

Insider Buying and Selling

In other Energy Transfer news, Director James Perry purchased 12,359 shares of Energy Transfer stock in a transaction on Friday, August 7th. The shares were acquired at an average cost of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the transaction, the director directly owned 208,046 shares of the company’s stock, valued at approximately $4,208,770.58. The trade was a 6.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kelcy L. Warren purchased 647,968 shares of Energy Transfer stock in a transaction on Wednesday, August 19th. The shares were acquired at an average price of $21.26 per share, for a total transaction of $13,775,799.68. Following the completion of the transaction, the director directly owned 147,901,879 shares of the company’s stock, valued at approximately $3,144,393,947.54. The trade was a 0.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 1,012,359 shares of company stock valued at $21,513,543 in the last 90 days. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Company Profile

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.