Plan Group Financial LLC Acquires 5,424 Shares of Energy Transfer LP (NYSE:ET)

Plan Group Financial LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 14.0% during the third quarter, HoldingsChannel.com reports. The fund owned 44,274 shares of the pipeline company’s stock after purchasing an additional 5,424 shares during the period. Plan Group Financial LLC’s holdings in Energy Transfer were worth $711,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Rehmann Capital Advisory Group increased its stake in Energy Transfer by 2.0% in the first quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock valued at $505,000 after acquiring an additional 633 shares during the period. Veracity Capital LLC grew its stake in Energy Transfer by 2.0% during the second quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock worth $545,000 after buying an additional 659 shares during the last quarter. Sfmg LLC grew its stake in Energy Transfer by 2.2% during the first quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock worth $494,000 after buying an additional 674 shares during the last quarter. Morton Capital Management LLC CA grew its stake in Energy Transfer by 1.6% during the second quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock worth $720,000 after buying an additional 699 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its stake in Energy Transfer by 3.6% during the first quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock worth $318,000 after buying an additional 700 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

ET opened at $16.35 on Wednesday. The company’s 50 day simple moving average is $16.14 and its 200-day simple moving average is $15.95. Energy Transfer LP has a one year low of $12.90 and a one year high of $16.64. The stock has a market capitalization of $55.10 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data 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 net margin of 5.19% and a return on equity of 12.74%. The business had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same quarter in the prior year, the company earned $0.25 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. Sell-side analysts anticipate that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a $0.32 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.83%. The ex-dividend date was Friday, August 9th. Energy Transfer’s dividend payout ratio is currently 117.43%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ET. Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. Royal Bank of Canada upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, UBS Group increased their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Energy Transfer has a consensus rating of “Buy” and an average price target of $20.00.

Insider Activity at Energy Transfer

In other Energy Transfer news, CEO Thomas E. Long acquired 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, for a total transaction 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. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Thomas E. Long bought 20,000 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, for a total transaction of $313,600.00. Following the completion of the acquisition, the chief executive officer now owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kelcy L. Warren bought 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 3,040,000 shares of company stock worth $47,667,200 over the last ninety days. Company insiders own 3.28% of the company’s stock.

Energy Transfer 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.