Energy Transfer LP $ET Shares Acquired by Corient Private Wealth LLC

Corient Private Wealth LLC lifted its position in Energy Transfer LP (NYSE:ET) by 223.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,690,771 shares of the pipeline company’s stock after acquiring an additional 1,168,440 shares during the period. Corient Private Wealth LLC’s holdings in Energy Transfer were worth $30,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC purchased a new position in Energy Transfer in the 2nd quarter valued at $168,917,000. Energy Income Partners LLC lifted its stake in shares of Energy Transfer by 12.0% in the first quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company’s stock worth $429,802,000 after buying an additional 2,471,401 shares in the last quarter. Northside Capital Management LLC purchased a new position in shares of Energy Transfer in the second quarter worth about $34,231,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Energy Transfer by 9.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,353,476 shares of the pipeline company’s stock worth $387,139,000 after acquiring an additional 1,825,391 shares during the last quarter. Finally, Jump Financial LLC grew its stake in Energy Transfer by 2,687.9% during the 2nd quarter. Jump Financial LLC now owns 1,791,358 shares of the pipeline company’s stock valued at $32,477,000 after acquiring an additional 1,727,104 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Down 0.9%

Shares of NYSE:ET opened at $16.36 on Wednesday. The company has a market capitalization of $56.15 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 0.99 and a beta of 0.65. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The business has a 50-day moving average price of $16.68 and a 200 day moving average price of $17.27. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET) last announced 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 10.71% and a net margin of 5.66%.The company had revenue of $19.95 billion for the quarter, compared to analysts’ expectations of $21.84 billion. During the same period last year, the business earned $0.32 EPS. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. Sell-side analysts expect 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. Investors of record on Friday, November 7th were issued a $0.3325 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, November 7th. This represents a $1.33 annualized dividend and a yield of 8.1%. Energy Transfer’s payout ratio is 106.40%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ET. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. Scotiabank lowered their price objective on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a research note on Thursday, November 13th. Morgan Stanley dropped their target price on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, December 2nd. UBS Group reiterated a “buy” rating and set a $22.00 price target on shares of Energy Transfer in a report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Monday, November 24th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target of $21.62.

Insiders Place Their Bets

In other news, Director Kelcy L. Warren bought 1,000,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were bought 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 in the company, valued at $1,772,593,760.85. This trade represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.