Benjamin Edwards Inc. Increases Stock Holdings in Energy Transfer LP $ET

Benjamin Edwards Inc. grew its holdings in Energy Transfer LP (NYSE:ET) by 32.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 185,504 shares of the pipeline company’s stock after purchasing an additional 45,047 shares during the quarter. Benjamin Edwards Inc.’s holdings in Energy Transfer were worth $3,183,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC acquired a new position in shares of Energy Transfer during the 2nd quarter worth about $168,917,000. Northside Capital Management LLC acquired a new position in Energy Transfer in the second quarter valued at approximately $34,231,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Energy Transfer by 9.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,353,476 shares of the pipeline company’s stock valued at $387,139,000 after purchasing an additional 1,825,391 shares in the last quarter. Jump Financial LLC increased its stake in Energy Transfer by 2,687.9% in the second quarter. Jump Financial LLC now owns 1,791,358 shares of the pipeline company’s stock valued at $32,477,000 after purchasing an additional 1,727,104 shares during the last quarter. Finally, Corient Private Wealth LLC increased its stake in Energy Transfer by 223.7% in the second quarter. Corient Private Wealth LLC now owns 1,690,771 shares of the pipeline company’s stock valued at $30,654,000 after purchasing an additional 1,168,440 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ET. Morgan Stanley cut their target price on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 2nd. Jefferies Financial Group set a $17.00 price target on Energy Transfer and gave the stock a “hold” rating in a research report on Tuesday, October 28th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Wednesday. Scotiabank decreased their price objective on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a report on Thursday, November 13th. Finally, JPMorgan Chase & Co. cut their target price on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. Thirteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.

Insider Transactions at Energy Transfer

In related news, Director Kelcy L. Warren acquired 1,000,000 shares of Energy Transfer stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the purchase, 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.28% of the company’s stock.

Energy Transfer Trading Up 0.4%

Shares of Energy Transfer stock opened at $16.97 on Friday. The company has a 50-day moving average of $16.58 and a two-hundred day moving average of $17.09. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50. The stock has a market cap of $58.25 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.89 and a beta of 0.66.

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 net margin of 5.66% and a return on equity of 10.71%. The business had revenue of $19.95 billion for the quarter, compared to analysts’ expectations of $21.84 billion. During the same quarter last year, the business posted $0.32 earnings per share. The business’s revenue was down 3.9% compared to the same quarter last year. On average, research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company 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 represents a $1.33 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date was Friday, November 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is presently 106.40%.

Energy Transfer Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.