Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
Morling Financial Advisors LLC boosted its position in shares of Energy Transfer LP (NYSE:ET – Get Rating) by 73.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,968 shares of the pipeline company’s stock after purchasing an additional 21,573 shares during the period. Energy Transfer accounts for approximately 0.8% of Morling Financial Advisors LLC’s portfolio, making the stock its 28th biggest position. Morling Financial Advisors LLC’s holdings in Energy Transfer were worth $562,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Teamwork Financial Advisors LLC lifted its position in shares of Energy Transfer by 1.6% in the third quarter. Teamwork Financial Advisors LLC now owns 55,673 shares of the pipeline company’s stock worth $614,000 after buying an additional 900 shares during the last quarter. Gladstone Institutional Advisory LLC lifted its position in shares of Energy Transfer by 5.2% in the third quarter. Gladstone Institutional Advisory LLC now owns 18,277 shares of the pipeline company’s stock worth $202,000 after buying an additional 905 shares during the last quarter. AJ Wealth Strategies LLC lifted its position in shares of Energy Transfer by 1.5% in the third quarter. AJ Wealth Strategies LLC now owns 60,826 shares of the pipeline company’s stock worth $671,000 after buying an additional 923 shares during the last quarter. Aveo Capital Partners LLC lifted its position in shares of Energy Transfer by 1.0% in the second quarter. Aveo Capital Partners LLC now owns 99,548 shares of the pipeline company’s stock worth $993,000 after buying an additional 950 shares during the last quarter. Finally, Tradition Wealth Management LLC lifted its position in shares of Energy Transfer by 6.8% in the second quarter. Tradition Wealth Management LLC now owns 15,062 shares of the pipeline company’s stock worth $150,000 after buying an additional 955 shares during the last quarter. Institutional investors and hedge funds own 37.81% of the company’s stock.
Analysts Set New Price Targets
ET has been the subject of a number of analyst reports. Citigroup assumed coverage on Energy Transfer in a research report on Thursday, December 8th. They issued a “buy” rating and a $16.00 price target for the company. Morgan Stanley lifted their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, January 9th. Finally, Mizuho lifted their price objective on Energy Transfer from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, November 4th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Energy Transfer presently has an average rating of “Buy” and an average target price of $15.83.
Energy Transfer Trading Up 0.2 %
Shares of ET opened at $12.67 on Friday. Energy Transfer LP has a 12-month low of $8.75 and a 12-month high of $12.95. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $39.13 billion, a price-to-earnings ratio of 9.46 and a beta of 1.75. The stock’s 50-day moving average price is $12.07 and its 200 day moving average price is $11.58.
Energy Transfer (NYSE:ET – Get Rating) last issued its quarterly earnings results on Tuesday, November 1st. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Energy Transfer had a return on equity of 13.01% and a net margin of 5.02%. The firm had revenue of $22.94 billion for the quarter, compared to analyst estimates of $27.57 billion. As a group, research analysts predict that Energy Transfer LP will post 1.41 earnings per share for the current year.
Energy Transfer Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 21st. Shareholders of record on Friday, November 4th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 8.37%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, November 3rd. Energy Transfer’s payout ratio is presently 79.11%.
Insider Buying and Selling at Energy Transfer
In related news, Chairman Kelcy L. Warren acquired 500,000 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The shares were bought at an average cost of $12.36 per share, with a total value of $6,180,000.00. Following the completion of the acquisition, the chairman now owns 54,278,477 shares of the company’s stock, valued at $670,881,975.72. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Energy Transfer news, Director Richard D. Brannon bought 80,000 shares of Energy Transfer stock in a transaction dated Thursday, December 15th. The shares were acquired at an average cost of $11.55 per share, with a total value of $924,000.00. Following the acquisition, the director now directly owns 580,000 shares of the company’s stock, valued at $6,699,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Kelcy L. Warren bought 500,000 shares of Energy Transfer stock in a transaction dated Tuesday, November 22nd. The stock was acquired at an average cost of $12.36 per share, for a total transaction of $6,180,000.00. Following the completion of the acquisition, the chairman now directly owns 54,278,477 shares in the company, valued at $670,881,975.72. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 740,000 shares of company stock valued at $9,082,900. 3.28% of the stock is currently owned by corporate insiders.
Energy Transfer Company Profile
(Get Rating)
Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.
Read More
- Get a free copy of the StockNews.com research report on Energy Transfer (ET)
- MarketBeat: Week in Review 01/09-01/13
- JPMorgan Chase Falls As Banks Brace For Recession
- Why is the Bed Bath & Beyond Stock Price up 261%?
- Roku Stock Price is Trending, Here’s Why
- Carvana Stock Rally, Here’s What You Need to Know
Want to see what other hedge funds are holding ET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer LP (NYSE:ET – Get Rating).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Energy Transfer, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Energy Transfer wasn’t on the list.
While Energy Transfer currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by entering your email address below.
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat’s trending stocks report.
Identify stocks that meet your criteria using seven unique stock screeners. See what’s happening in the market right now with MarketBeat’s real-time news feed. Export data to Excel for your own analysis.
As Featured By:
326 E 8th St #105, Sioux Falls, SD 57103
contact@marketbeat.com
(844) 978-6257
© American Consumer News, LLC dba MarketBeat® 2010-2023. All rights reserved.
© 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer.
