Caprock Group LLC Buys New Shares in Energy Transfer LP $ET

Caprock Group LLC purchased a new position in shares of Energy Transfer LP (NYSE:ET) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 66,826 shares of the pipeline company’s stock, valued at approximately $1,184,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Alps Advisors Inc. increased its stake in shares of Energy Transfer by 4.5% during the third quarter. Alps Advisors Inc. now owns 77,651,021 shares of the pipeline company’s stock worth $1,332,492,000 after buying an additional 3,366,734 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Energy Transfer by 9.3% in the 2nd 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 during the last quarter. Jump Financial LLC raised its holdings in shares of Energy Transfer by 2,687.9% in the 2nd 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 in the last quarter. Corient Private Wealth LLC lifted its position in shares of Energy Transfer by 223.7% during the 2nd quarter. Corient Private Wealth LLC now owns 1,690,771 shares of the pipeline company’s stock worth $30,654,000 after purchasing an additional 1,168,440 shares during the last quarter. Finally, Annandale Capital LLC grew its stake in shares of Energy Transfer by 242.1% during the second quarter. Annandale Capital LLC now owns 637,479 shares of the pipeline company’s stock worth $11,557,000 after purchasing an additional 1,086,117 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Insider Transactions at Energy Transfer

In other news, Director Kelcy L. Warren acquired 1,000,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was bought at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on ET shares. JPMorgan Chase & Co. cut their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Jefferies Financial Group set a $17.00 target price on Energy Transfer and gave the stock a “hold” rating in a research report on Tuesday, October 28th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Wednesday, January 7th. Barclays reissued an “overweight” rating and set a $22.00 price objective (down previously from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. Finally, Scotiabank restated an “outperform” rating on shares of Energy Transfer in a report on Friday, January 16th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $21.36.

Energy Transfer Stock Performance

NYSE ET opened at $18.77 on Friday. The firm has a market cap of $64.43 billion, a P/E ratio of 15.01, a P/E/G ratio of 0.97 and a beta of 0.66. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $20.51. The business’s 50-day moving average price is $17.21 and its 200 day moving average price is $17.13. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 1.50.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Friday, February 6th will be given a $0.335 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, February 6th. This represents a $1.34 dividend on an annualized basis and a yield of 7.1%. Energy Transfer’s payout ratio is 107.20%.

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.