Energy Transfer LP (NYSE:ET) Shares Acquired by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC lifted its holdings in Energy Transfer LP (NYSE:ET) by 4.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,374 shares of the pipeline company’s stock after purchasing an additional 1,157 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Energy Transfer were worth $428,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwest Financial Advisors purchased a new stake in Energy Transfer during the 4th quarter worth approximately $25,000. LRI Investments LLC acquired a new position in shares of Energy Transfer in the 1st quarter valued at $29,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Energy Transfer in the 4th quarter worth $33,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Energy Transfer during the 4th quarter worth about $34,000. Finally, Community Bank N.A. grew its stake in Energy Transfer by 55.9% during the 4th quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 951 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ET. JPMorgan Chase & Co. raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Morgan Stanley upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Mizuho increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. UBS Group boosted their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Finally, Stifel Nicolaus increased their price target on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $19.29.

Insider Buying and Selling

In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Energy Transfer news, CEO Thomas E. Long bought 20,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. The disclosure for this purchase can be found here. 3.28% of the stock is currently owned by insiders.

Energy Transfer Stock Performance

NYSE ET remained flat at $16.06 during mid-day trading on Wednesday. 3,770,159 shares of the company were exchanged, compared to its average volume of 13,564,679. The stock has a market cap of $54.12 billion, a P/E ratio of 14.72, a P/E/G ratio of 0.42 and a beta of 1.66. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The business has a 50-day simple moving average of $16.02 and a 200 day simple moving average of $15.59. Energy Transfer LP has a 12-month low of $12.89 and a 12-month high of $16.50.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The company’s revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. Equities analysts predict that Energy Transfer LP will post 1.49 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were paid a $0.32 dividend. The ex-dividend date was Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a yield of 7.97%. Energy Transfer’s dividend payout ratio (DPR) is currently 117.43%.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.