Trek Financial LLC Grows Holdings in Energy Transfer LP (NYSE:ET)

Trek Financial LLC grew its stake in Energy Transfer LP (NYSE:ET) by 44.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 46,449 shares of the pipeline company’s stock after acquiring an additional 14,399 shares during the period. Trek Financial LLC’s holdings in Energy Transfer were worth $579,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Moneta Group Investment Advisors LLC increased its stake in Energy Transfer by 109,332.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 145,943,387 shares of the pipeline company’s stock worth $1,732,348,000 after buying an additional 145,810,023 shares during the period. Natixis increased its stake in Energy Transfer by 56.4% during the 4th quarter. Natixis now owns 42,600,549 shares of the pipeline company’s stock worth $505,669,000 after buying an additional 15,361,035 shares during the period. Morgan Stanley increased its stake in Energy Transfer by 20.9% during the 4th quarter. Morgan Stanley now owns 76,339,168 shares of the pipeline company’s stock worth $906,146,000 after buying an additional 13,220,435 shares during the period. Maryland State Retirement & Pension System increased its stake in Energy Transfer by 323.6% during the 1st quarter. Maryland State Retirement & Pension System now owns 2,752,428 shares of the pipeline company’s stock worth $34,323,000 after buying an additional 2,102,618 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Energy Transfer by 13.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,126,047 shares of the pipeline company’s stock worth $203,286,000 after buying an additional 2,005,409 shares during the period. 33.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on ET shares. Mizuho boosted their price target on shares of Energy Transfer from $17.00 to $18.00 in a report on Tuesday, July 18th. Morgan Stanley reiterated an “overweight” rating and set a $17.00 price target on shares of Energy Transfer in a report on Thursday, July 20th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Energy Transfer currently has an average rating of “Buy” and a consensus price target of $16.67.

Energy Transfer Trading Up 0.4 %

Shares of Energy Transfer stock opened at $13.76 on Friday. The company has a fifty day simple moving average of $13.11 and a 200-day simple moving average of $12.78. Energy Transfer LP has a 12-month low of $10.02 and a 12-month high of $13.85. The company has a current ratio of 0.81, a quick ratio of 0.64 and a debt-to-equity ratio of 1.28. The stock has a market cap of $43.25 billion, a price-to-earnings ratio of 11.47 and a beta of 1.70.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 2nd. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.05). Energy Transfer had a net margin of 5.05% and a return on equity of 11.85%. The company had revenue of $18.32 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the previous year, the company posted $0.39 EPS. The company’s quarterly revenue was down 29.4% on a year-over-year basis. On average, equities analysts forecast that Energy Transfer LP will post 1.21 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Monday, August 14th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 9.01%. The ex-dividend date of this dividend was Friday, August 11th. Energy Transfer’s payout ratio is 103.33%.

Insider Activity

In other Energy Transfer news, Chairman Kelcy L. Warren purchased 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average price of $12.93 per share, for a total transaction of $9,697,500.00. Following the purchase, the chairman now directly owns 62,328,477 shares in the company, valued at $805,907,207.61. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Energy Transfer news, Chairman Kelcy L. Warren purchased 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average price of $12.93 per share, for a total transaction of $9,697,500.00. Following the purchase, the chairman now directly owns 62,328,477 shares in the company, valued at $805,907,207.61. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bradford D. Whitehurst purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were acquired at an average price of $13.00 per share, with a total value of $130,000.00. Following the purchase, the executive vice president now owns 1,313,055 shares in the company, valued at $17,069,715. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 2,010,000 shares of company stock worth $26,149,000. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Profile

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 19,945 miles of interstate natural gas pipeline.