Bokf Na Has $10.39 Million Holdings in Energy Transfer LP (NYSE:ET)

Bokf Na lifted its holdings in Energy Transfer LP (NYSE:ET) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 640,703 shares of the pipeline company’s stock after acquiring an additional 965 shares during the quarter. Bokf Na’s holdings in Energy Transfer were worth $10,392,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ET. LRI Investments LLC bought a new position in Energy Transfer in the 1st quarter worth approximately $29,000. Atlantic Edge Private Wealth Management LLC bought a new position in Energy Transfer in the 4th quarter worth approximately $33,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Energy Transfer during the 4th quarter valued at $34,000. Hudson Edge Investment Partners Inc. bought a new stake in shares of Energy Transfer during the 2nd quarter valued at $42,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Energy Transfer during the 2nd quarter valued at $42,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Thomas E. Long purchased 20,000 shares of Energy Transfer stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Thomas E. Long bought 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were purchased 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 approximately $67,562,909.12. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, 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. In the last 90 days, insiders have bought 3,040,000 shares of company stock worth $47,667,200. Corporate insiders own 3.28% of the company’s stock.

Analyst Upgrades and Downgrades

ET has been the subject of several recent research reports. UBS Group upped 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. JPMorgan Chase & Co. upped their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Mizuho upped their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, 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 report on Monday, June 10th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Stock Up 0.1 %

Energy Transfer stock opened at $15.84 on Thursday. The stock has a market cap of $54.21 billion, a P/E ratio of 14.53, a P/E/G ratio of 0.47 and a beta of 1.66. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. Energy Transfer LP has a twelve month low of $12.90 and a twelve month high of $16.50. The company’s 50-day moving average price is $16.07 and its two-hundred day moving average price is $15.76.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. During the same period in the prior year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, analysts expect that Energy Transfer LP will post 1.4 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared 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 a positive change 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 annualized dividend and a dividend yield of 8.08%. Energy Transfer’s dividend payout ratio (DPR) is currently 117.43%.

About Energy Transfer

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.