AlphaCore Capital LLC Has $247,000 Stock Position in Energy Transfer LP $ET

AlphaCore Capital LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 34.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,616 shares of the pipeline company’s stock after buying an additional 3,473 shares during the quarter. AlphaCore Capital LLC’s holdings in Energy Transfer were worth $247,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Ryan Investment Management Inc. acquired a new position in shares of Energy Transfer in the second quarter valued at approximately $31,000. Vision Financial Markets LLC bought a new stake in shares of Energy Transfer in the first quarter valued at about $33,000. CNB Bank boosted its position in shares of Energy Transfer by 111.1% during the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after buying an additional 1,000 shares during the period. Stone House Investment Management LLC bought a new position in shares of Energy Transfer during the first quarter worth about $38,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Energy Transfer in the 1st quarter valued at approximately $40,000. 38.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ET shares. UBS Group reaffirmed a “buy” rating and set a $22.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. JPMorgan Chase & Co. reduced their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday. Morgan Stanley lowered their target price on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Wells Fargo & Company restated an “overweight” rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Finally, Barclays reissued an “overweight” rating and issued a $25.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.92.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $16.50 on Tuesday. 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 cap of $56.65 billion, a price-to-earnings ratio of 12.79, a P/E/G ratio of 1.01 and a beta of 0.76. The stock’s fifty day moving average price is $16.87 and its two-hundred day moving average price is $17.41. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.06). Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The business had revenue of $19.95 billion during the quarter, compared to analyst estimates of $21.84 billion. During the same quarter last year, the company posted $0.32 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis. On average, equities analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Friday, November 7th were issued a dividend of $0.3325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.33 annualized dividend and a dividend yield of 8.1%. Energy Transfer’s payout ratio is currently 106.40%.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren acquired 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average price of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the transaction, the director directly owned 104,577,803 shares of the company’s stock, valued at $1,772,593,760.85. This trade represents a 0.97% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.28% of the company’s stock.

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.