Energy Transfer LP $ET Shares Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 33.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,727 shares of the pipeline company’s stock after acquiring an additional 6,264 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Energy Transfer were worth $448,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mirador Capital Partners LP acquired a new stake in Energy Transfer during the second quarter worth $919,000. Fermata Advisors LLC increased its stake in Energy Transfer by 18.4% during the second quarter. Fermata Advisors LLC now owns 13,619 shares of the pipeline company’s stock worth $247,000 after acquiring an additional 2,113 shares during the last quarter. Thrive Wealth Management LLC increased its stake in Energy Transfer by 2.2% during the second quarter. Thrive Wealth Management LLC now owns 47,034 shares of the pipeline company’s stock worth $853,000 after acquiring an additional 1,000 shares during the last quarter. Krilogy Financial LLC acquired a new stake in Energy Transfer during the second quarter worth $295,000. Finally, Fiduciary Alliance LLC increased its stake in Energy Transfer by 22.5% during the second quarter. Fiduciary Alliance LLC now owns 44,004 shares of the pipeline company’s stock worth $798,000 after acquiring an additional 8,069 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

ET has been the subject of a number of research reports. Morgan Stanley dropped their price objective on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Cowen initiated coverage on Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating for the company. Scotiabank initiated coverage on Energy Transfer in a research note on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 price objective for the company. TD Cowen initiated coverage on Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target of $22.50.

Energy Transfer Stock Performance

Shares of ET stock opened at $17.32 on Friday. The stock has a market capitalization of $59.45 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 1.02 and a beta of 0.85. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The stock’s 50-day moving average price is $17.54 and its 200 day moving average price is $17.61. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The company had revenue of $19.24 billion for the quarter, compared to analysts’ expectations of $24.07 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. As a group, equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were paid a dividend of $0.33 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.32 annualized dividend and a dividend yield of 7.6%. Energy Transfer’s dividend payout ratio is presently 102.33%.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren purchased 1,350,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the purchase, the director directly owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. The trade was a 1.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 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.