Clarkston Capital Partners LLC Purchases 15,000 Shares of Energy Transfer LP $ET

Clarkston Capital Partners LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 15.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,000 shares of the pipeline company’s stock after acquiring an additional 15,000 shares during the period. Clarkston Capital Partners LLC’s holdings in Energy Transfer were worth $2,085,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Ryan Investment Management Inc. acquired a new position in Energy Transfer during the 2nd quarter worth about $31,000. Vision Financial Markets LLC acquired a new stake in shares of Energy Transfer in the first quarter valued at approximately $33,000. CNB Bank raised its position in Energy Transfer by 111.1% in the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 1,000 shares during the last quarter. Stone House Investment Management LLC acquired a new position in Energy Transfer during the 1st quarter worth $38,000. Finally, N.E.W. Advisory Services LLC bought a new position in Energy Transfer in the 1st quarter valued at $40,000. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ET shares. Morgan Stanley dropped their target price on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday. Scotiabank dropped their price target on shares of Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a research note on Thursday, November 13th. Finally, Barclays reaffirmed an “overweight” rating and issued a $25.00 price objective on shares of Energy Transfer in a research note on Wednesday, October 15th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average target price of $21.92.

Energy Transfer Price Performance

Shares of ET stock opened at $16.45 on Friday. 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 LP has a 12-month low of $14.60 and a 12-month high of $21.45. The firm has a fifty day moving average of $16.81 and a 200-day moving average of $17.39. The firm has a market capitalization of $56.48 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.01 and a beta of 0.76.

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

Energy Transfer Increases Dividend

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

Insider Buying and Selling

In related news, Director Kelcy L. Warren purchased 1,000,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were purchased at an average price of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the purchase, the director owned 104,577,803 shares in the company, valued at $1,772,593,760.85. This represents a 0.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.28% of the company’s stock.

Energy Transfer 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.