Sei Investments Co. Buys 20,093 Shares of Energy Transfer LP (NYSE:ET)

Sei Investments Co. raised its stake in shares of Energy Transfer LP (NYSE:ET) by 77.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 46,063 shares of the pipeline company’s stock after purchasing an additional 20,093 shares during the period. Sei Investments Co.’s holdings in Energy Transfer were worth $747,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tortoise Capital Advisors L.L.C. boosted its holdings in Energy Transfer by 12.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after buying an additional 4,141,715 shares during the period. First Reserve GP XIII Ltd purchased a new position in shares of Energy Transfer in the fourth quarter valued at about $322,097,000. Natixis boosted its stake in shares of Energy Transfer by 20.0% in the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after acquiring an additional 2,999,300 shares during the period. Chickasaw Capital Management LLC raised its stake in Energy Transfer by 2.9% during the 2nd quarter. Chickasaw Capital Management LLC now owns 14,883,956 shares of the pipeline company’s stock valued at $241,418,000 after purchasing an additional 425,323 shares during the period. Finally, Miller Howard Investments Inc. NY raised its stake in Energy Transfer by 4.1% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 6,217,181 shares of the pipeline company’s stock valued at $100,843,000 after purchasing an additional 247,374 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Energy Transfer stock opened at $16.16 on Wednesday. Energy Transfer LP has a 52-week low of $12.90 and a 52-week high of $16.50. The company has a market cap of $54.46 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 0.50 and a beta of 1.66. The firm’s fifty day moving average is $16.03 and its 200 day moving average is $15.90. 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 (NYSE:ET) last announced its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $22.01 billion. During the same period in the previous year, the business posted $0.25 EPS. The firm’s revenue was up 13.1% on a year-over-year basis. Sell-side analysts forecast that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a $0.32 dividend. The ex-dividend date of this dividend 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 yield of 7.92%. Energy Transfer’s dividend payout ratio (DPR) is currently 117.43%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ET shares. Mizuho lifted their price objective 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. JPMorgan Chase & Co. lifted 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 Thursday, June 20th. Finally, UBS Group increased their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $20.00.

Insiders Place Their Bets

In other news, EVP Gregory G. Mcilwain acquired 20,000 shares of Energy Transfer stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the transaction, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 3,040,000 shares of company stock valued at $47,667,200 over the last three months. 3.28% of the stock is owned by company insiders.

Energy Transfer Company 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.