Janney Montgomery Scott LLC Grows Holdings in Energy Transfer LP $ET

Janney Montgomery Scott LLC raised its position in Energy Transfer LP (NYSE:ET) by 11.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 694,053 shares of the pipeline company’s stock after buying an additional 69,692 shares during the period. Janney Montgomery Scott LLC’s holdings in Energy Transfer were worth $12,583,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Energy Transfer by 93.4% during the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after purchasing an additional 11,844 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Energy Transfer by 1,139.3% during the first quarter. GAMMA Investing LLC now owns 18,590 shares of the pipeline company’s stock worth $346,000 after purchasing an additional 17,090 shares in the last quarter. RFG Advisory LLC increased its stake in shares of Energy Transfer by 3.6% during the first quarter. RFG Advisory LLC now owns 43,640 shares of the pipeline company’s stock worth $811,000 after purchasing an additional 1,521 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Energy Transfer during the first quarter worth about $102,000. Finally, ACT Wealth Management LLC increased its stake in shares of Energy Transfer by 8.8% during the first quarter. ACT Wealth Management LLC now owns 21,719 shares of the pipeline company’s stock worth $404,000 after purchasing an additional 1,749 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

NYSE:ET opened at $16.83 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. The firm has a market capitalization of $57.78 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.00 and a beta of 0.78. The company’s 50-day moving average is $17.47 and its two-hundred day moving average is $17.55. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. During the same period in the prior year, the business posted $0.35 EPS. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. Analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were issued a $0.33 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.32 annualized dividend and a dividend yield of 7.8%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is currently 102.33%.

Insider Activity at Energy Transfer

In related news, Director Kelcy L. Warren acquired 1,350,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were purchased at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the acquisition, the director owned 69,178,477 shares in the company, valued at $1,200,938,360.72. The trade was a 1.99% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Wells Fargo & Company reissued an “overweight” rating and set a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. TD Cowen assumed coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating and a $22.00 target price for the company. Cowen assumed coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating for the company. Morgan Stanley cut their target price on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research report on Saturday, September 27th. Fourteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

About Energy Transfer

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.