Daymark Wealth Partners LLC Purchases 134,159 Shares of Energy Transfer LP (NYSE:ET)

Daymark Wealth Partners LLC boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 878.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 149,426 shares of the pipeline company’s stock after acquiring an additional 134,159 shares during the period. Daymark Wealth Partners LLC’s holdings in Energy Transfer were worth $2,424,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ET. Rehmann Capital Advisory Group lifted its holdings in shares of Energy Transfer by 2.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock valued at $505,000 after purchasing an additional 633 shares in the last quarter. Veracity Capital LLC lifted its stake in Energy Transfer by 2.0% in the second 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 in the last quarter. Sfmg LLC boosted its holdings in shares of Energy Transfer by 2.2% in the first 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 period. Morton Capital Management LLC CA increased its position in shares of 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 acquiring an additional 699 shares in the last quarter. Finally, FinTrust Capital Advisors LLC increased its position in shares of 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 acquiring an additional 700 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ET has been the topic of several research reports. JPMorgan Chase & Co. boosted their price objective 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 boosted their price target on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Morgan Stanley increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Finally, UBS Group lifted their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.14.

Insiders Place Their Bets

In other news, CEO Thomas E. Long acquired 20,000 shares of the firm’s stock in a transaction dated 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 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 filing with the SEC, which is accessible through this hyperlink. In other Energy Transfer news, CEO Thomas E. Long acquired 20,000 shares of the company’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 purchase, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Price Performance

Shares of NYSE ET opened at $15.92 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The business has a 50-day moving average of $16.05 and a 200-day moving average of $15.85. The stock has a market capitalization of $53.63 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a fifty-two week low of $12.90 and a fifty-two week high of $16.50.

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 analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 earnings per share. As a group, sell-side analysts predict that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 8.04%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. Energy Transfer’s payout ratio is presently 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.