CreativeOne Wealth LLC boosted its position in shares of Energy Transfer LP (NYSE:ET – Get Rating) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,055 shares of the pipeline company’s stock after purchasing an additional 2,060 shares during the period. CreativeOne Wealth LLC’s holdings in Energy Transfer were worth $960,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Natixis grew its position in Energy Transfer by 53.8% in the second quarter. Natixis now owns 35,742,498 shares of the pipeline company’s stock valued at $356,752,000 after purchasing an additional 12,504,602 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Energy Transfer by 3.4% in the second quarter. Goldman Sachs Group Inc. now owns 92,975,735 shares of the pipeline company’s stock valued at $927,898,000 after acquiring an additional 3,059,360 shares during the last quarter. Amundi boosted its position in Energy Transfer by 45.1% during the second quarter. Amundi now owns 8,893,862 shares of the pipeline company’s stock valued at $85,915,000 after purchasing an additional 2,765,380 shares during the last quarter. Energy Income Partners LLC grew its stake in Energy Transfer by 8.3% in the third quarter. Energy Income Partners LLC now owns 25,529,480 shares of the pipeline company’s stock valued at $281,590,000 after purchasing an additional 1,951,059 shares in the last quarter. Finally, Wexford Capital LP increased its position in shares of Energy Transfer by 733.7% during the 2nd quarter. Wexford Capital LP now owns 1,678,919 shares of the pipeline company’s stock worth $2,889,000 after purchasing an additional 1,477,547 shares during the last quarter. Institutional investors and hedge funds own 37.81% of the company’s stock.
Insider Buying and Selling at Energy Transfer
In other Energy Transfer news, Chairman Kelcy L. Warren purchased 1,339,398 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The stock was bought at an average cost of $12.99 per share, for a total transaction of $17,398,780.02. Following the completion of the transaction, the chairman now owns 56,917,875 shares in the company, valued at $739,363,196.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Richard D. Brannon acquired 80,000 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The stock was acquired at an average price of $11.55 per share, with a total value of $924,000.00. Following the completion of the transaction, the director now directly owns 580,000 shares of the company’s stock, valued at approximately $6,699,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Kelcy L. Warren acquired 1,339,398 shares of Energy Transfer stock in a transaction on Wednesday, February 22nd. The shares were purchased at an average price of $12.99 per share, for a total transaction of $17,398,780.02. Following the completion of the purchase, the chairman now directly owns 56,917,875 shares of the company’s stock, valued at $739,363,196.25. The disclosure for this purchase can be found here. Insiders own 3.28% of the company’s stock.
Energy Transfer Trading Up 0.7 %
Energy Transfer (NYSE:ET – Get Rating) last issued its quarterly earnings data on Wednesday, February 15th. The pipeline company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Energy Transfer had a net margin of 5.17% and a return on equity of 13.55%. The firm had revenue of $20.50 billion during the quarter, compared to analyst estimates of $23.81 billion. During the same period in the prior year, the company earned $0.29 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, equities research analysts forecast that Energy Transfer LP will post 1.43 earnings per share for the current year.
Energy Transfer Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 21st. Shareholders of record on Tuesday, February 7th were paid a $0.305 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.27. The ex-dividend date was Monday, February 6th. This represents a $1.22 annualized dividend and a yield of 9.89%. Energy Transfer’s payout ratio is 87.77%.
Wall Street Analyst Weigh In
Several research firms have recently commented on ET. Citigroup started coverage on Energy Transfer in a report on Thursday, December 8th. They issued a “buy” rating and a $16.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, January 9th. Raymond James raised their target price on shares of Energy Transfer from $15.00 to $17.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 16th. Wells Fargo & Company boosted their price target on Energy Transfer from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 21st. Finally, Barclays raised their price objective on Energy Transfer from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday, January 18th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Buy” and an average price target of $16.43.
Energy Transfer Profile
Energy Transfer LP provides natural gas pipeline transportation and transmission services. It operates through the following segments: Intrastate Transportation and Storage, Interstate Transportation and Storage, Midstream, NGL and Refined Products Transportation and Services, Crude Oil Transportation and Services, Investment in Sunoco LP, Investment in USAC, and All Other.
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