O Brien Greene & Co. Inc Makes New $248,000 Investment in Energy Transfer LP (NYSE:ET)

O Brien Greene & Co. Inc purchased a new stake in shares of Energy Transfer LP (NYSE:ET) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 15,268 shares of the pipeline company’s stock, valued at approximately $248,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ET. LRI Investments LLC purchased a new position in shares of Energy Transfer during the first quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Energy Transfer during the 4th quarter valued at $34,000. Adirondack Trust Co. purchased a new position in Energy Transfer in the 4th quarter worth $42,000. EdgeRock Capital LLC bought a new stake in Energy Transfer in the second quarter worth $42,000. Finally, Hudson Edge Investment Partners Inc. purchased a new stake in Energy Transfer during the second quarter valued at about $42,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, CEO Thomas E. Long bought 20,000 shares of Energy Transfer 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 $313,600.00. Following 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Thomas E. Long purchased 20,000 shares of the company’s 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 $313,600.00. Following the transaction, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kelcy L. Warren purchased 3,000,000 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, for a total transaction of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares in the company, valued at $1,934,686,992. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is currently owned by company insiders.

Energy Transfer Trading Down 1.0 %

Shares of ET opened at $16.02 on Wednesday. Energy Transfer LP has a 1-year low of $12.90 and a 1-year high of $16.50. The firm has a market capitalization of $53.97 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 0.46 and a beta of 1.66. The firm’s 50-day moving average price is $16.06 and its 200-day moving average price is $15.81. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates 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 12.74% and a net margin of 5.19%. The firm’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company posted $0.25 EPS. Sell-side analysts anticipate that Energy Transfer LP will post 1.4 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were issued a $0.32 dividend. 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 7.99%. Energy Transfer’s dividend payout ratio is 117.43%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Morgan Stanley boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Finally, Mizuho raised their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target of $19.29.

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.