LPL Financial LLC Purchases 271,435 Shares of Energy Transfer LP (NYSE:ET)

LPL Financial LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 6.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,212,788 shares of the pipeline company’s stock after buying an additional 271,435 shares during the quarter. LPL Financial LLC owned approximately 0.13% of Energy Transfer worth $68,331,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Rehmann Capital Advisory Group increased its holdings in shares of Energy Transfer by 2.0% during 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 in the last quarter. Veracity Capital LLC lifted its position in shares of Energy Transfer by 2.0% during the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock valued at $545,000 after buying an additional 659 shares during the last quarter. Sfmg LLC lifted its position in shares of Energy Transfer by 2.2% during the 1st quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock valued at $494,000 after buying an additional 674 shares during the last quarter. Morton Capital Management LLC CA raised its stake in shares of Energy Transfer by 1.6% during the 2nd quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock valued at $720,000 after purchasing an additional 699 shares during the period. Finally, FinTrust Capital Advisors LLC raised its stake in shares of Energy Transfer by 3.6% during the 1st quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock valued at $318,000 after purchasing an additional 700 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Up 1.1 %

Shares of NYSE:ET opened at $16.17 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The stock has a market cap of $55.34 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 0.46 and a beta of 1.66. The business’s 50 day moving average is $16.06 and its 200 day moving average is $15.77. Energy Transfer LP has a 52-week low of $12.90 and a 52-week high of $16.50.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The firm had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. During the same quarter last year, the business earned $0.25 EPS. The business’s revenue was up 13.1% on a year-over-year basis. Sell-side analysts predict that Energy Transfer LP will post 1.4 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a $0.32 dividend. The ex-dividend date was Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.92%. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ET shares. Mizuho upped their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. JPMorgan Chase & Co. increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Finally, Morgan Stanley increased 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. One research 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

Insiders Place Their Bets

In other news, CEO Thomas E. Long bought 20,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, 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 price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost 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 $67,562,909.12. The disclosure for this purchase can be found here. Insiders purchased 3,040,000 shares of company stock valued at $47,667,200 in the last three months. 3.28% of the stock is currently owned by insiders.

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.