Oppenheimer & Co. Inc. Grows Stake in Energy Transfer LP $ET

Oppenheimer & Co. Inc. raised its position in shares of Energy Transfer LP (NYSE:ET) by 57.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 947,832 shares of the pipeline company’s stock after purchasing an additional 347,543 shares during the period. Oppenheimer & Co. Inc.’s holdings in Energy Transfer were worth $16,265,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alps Advisors Inc. grew its holdings in Energy Transfer by 4.5% during the 3rd quarter. Alps Advisors Inc. now owns 77,651,021 shares of the pipeline company’s stock worth $1,332,492,000 after acquiring an additional 3,366,734 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 valued at $387,139,000 after purchasing an additional 1,825,391 shares in the last quarter. Jump Financial LLC increased its holdings in Energy Transfer by 2,687.9% during the second quarter. Jump Financial LLC now owns 1,791,358 shares of the pipeline company’s stock valued at $32,477,000 after buying an additional 1,727,104 shares during the period. Corient Private Wealth LLC increased its holdings in Energy Transfer by 223.7% during 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 buying an additional 1,168,440 shares during the period. Finally, Annandale Capital LLC raised its stake in Energy Transfer by 242.1% in the second quarter. Annandale Capital LLC now owns 637,479 shares of the pipeline company’s stock worth $11,557,000 after buying an additional 1,086,117 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of ET opened at $17.92 on Monday. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $20.55. The company has a market capitalization of $61.53 billion, a P/E ratio of 14.34, a P/E/G ratio of 0.93 and a beta of 0.66. The business’s 50-day moving average is $17.06 and its two-hundred day moving average is $17.11. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.14 and a current ratio of 1.41.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Friday, February 6th will be issued a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date is Friday, February 6th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is 107.20%.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren acquired 1,000,000 shares of the 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 purchase, the director owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. This represents a 0.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.28% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ET has been the topic of several recent research reports. Jefferies Financial Group set a $17.00 target price on Energy Transfer and gave the company a “hold” rating in a research report on Tuesday, October 28th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research note on Friday, January 16th. Barclays reiterated an “overweight” rating and issued a $22.00 target price (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Wednesday, January 7th. Finally, Royal Bank Of Canada upgraded shares of Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.50.

Energy Transfer Company 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.