Kings Path Partners LLC Invests $130,000 in Energy Transfer LP (NYSE:ET)

Kings Path Partners LLC bought a new stake in Energy Transfer LP (NYSE:ET) during the second quarter, Holdings Channel.com reports. The fund bought 8,000 shares of the pipeline company’s stock, valued at approximately $130,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwest Financial Advisors bought a new position in Energy Transfer during the fourth quarter valued at approximately $25,000. LRI Investments LLC bought a new position in shares of Energy Transfer during 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. purchased a new stake in Energy Transfer during the fourth quarter valued at about $34,000. Finally, EdgeRock Capital LLC purchased a new stake in Energy Transfer during the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of NYSE ET opened at $16.10 on Friday. The company has a 50 day moving average of $16.10 and a 200 day moving average of $15.66. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a twelve month low of $12.90 and a twelve month high of $16.50. The firm has a market cap of $54.24 billion, a P/E ratio of 14.77, a PEG ratio of 0.42 and a beta of 1.66.

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

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a dividend of $0.32 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a yield of 7.95%. Energy Transfer’s dividend payout ratio is 117.43%.

Insider Buying and Selling

In other news, CEO Thomas E. Long acquired 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Energy Transfer news, CEO Thomas E. Long purchased 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the acquisition, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 3,040,000 shares of company stock worth $47,667,200. 3.28% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.