Sunbeam Capital Management LLC Purchases 28,880 Shares of Energy Transfer LP $ET

Sunbeam Capital Management LLC grew its position in shares of Energy Transfer LP (NYSE:ET) by 170.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,815 shares of the pipeline company’s stock after acquiring an additional 28,880 shares during the quarter. Sunbeam Capital Management LLC’s holdings in Energy Transfer were worth $786,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley dropped their target price on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, December 2nd. JPMorgan Chase & Co. dropped their price objective 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 price objective on Energy Transfer and gave the company a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. Finally, Barclays reaffirmed an “overweight” rating and set a $22.00 price target (down from $25.00) on shares of Energy Transfer in a research report on Monday. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

Insider Transactions at Energy Transfer

In related 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 purchased at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the transaction, the director directly owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. The trade was a 0.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.28% of the stock is owned by company insiders.

Energy Transfer Stock Up 0.2%

ET stock opened at $17.43 on Thursday. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The business’s 50 day simple moving average is $16.61 and its 200 day simple moving average is $17.08. 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 firm has a market capitalization of $59.85 billion, a PE ratio of 13.95, a PEG ratio of 0.91 and a beta of 0.66.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $21.84 billion. During the same period last year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were issued a $0.3325 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.33 annualized dividend and a yield of 7.6%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is currently 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.