Energy Transfer LP $ET is Summit Securities Group LLC’s 9th Largest Position

Summit Securities Group LLC grew its stake in shares of Energy Transfer LP (NYSE:ET) by 232.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 539,600 shares of the pipeline company’s stock after purchasing an additional 377,500 shares during the period. Energy Transfer makes up about 1.0% of Summit Securities Group LLC’s holdings, making the stock its 9th largest position. Summit Securities Group LLC’s holdings in Energy Transfer were worth $10,317,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Keybank National Association OH increased its holdings in shares of Energy Transfer by 0.3% in the 1st quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock valued at $4,231,000 after purchasing an additional 556 shares in the last quarter. Mountain Capital Investment Advisors Inc. grew its position in Energy Transfer by 4.9% during the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock worth $216,000 after buying an additional 560 shares during the period. Marks Wealth LLC increased its holdings in Energy Transfer by 4.7% in the fourth quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock valued at $207,000 after buying an additional 560 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Energy Transfer by 2.4% during the 1st quarter. Citizens Financial Group Inc. RI now owns 23,978 shares of the pipeline company’s stock valued at $463,000 after acquiring an additional 562 shares during the period. Finally, Avos Capital Management LLC boosted its stake in shares of Energy Transfer by 0.8% during the 4th quarter. Avos Capital Management LLC now owns 76,695 shares of the pipeline company’s stock worth $1,265,000 after acquiring an additional 583 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Up 1.3%

Shares of NYSE:ET opened at $21.02 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45. The firm has a market cap of $72.39 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 1.97 and a beta of 0.55. The stock’s 50-day moving average price is $19.76 and its two-hundred day moving average price is $19.32. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $21.11.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.21. The company had revenue of $34.33 billion during the quarter, compared to the consensus estimate of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The company’s quarterly revenue was up 78.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 EPS. On average, research analysts forecast that Energy Transfer LP will post 1.57 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be issued a $0.34 dividend. The ex-dividend date is Friday, August 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.36 dividend on an annualized basis and a yield of 6.5%. Energy Transfer’s payout ratio is presently 92.52%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Jefferies Financial Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Wednesday, August 5th. Truist Financial upped their target price on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group restated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Finally, Zacks Research downgraded Energy Transfer from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.92.

Key Stories Impacting Energy Transfer

Here are the key news stories impacting Energy Transfer this week:

• Positive Sentiment: Income appeal remains a key support. An investor analysis argues that Energy Transfer’s distribution yield, now near 6.5%, remains attractive and that the payout appears dependable, reinforcing ET’s appeal as a high-income midstream investment. Energy Transfer’s Yield Just Climbed Near 6.5%. Here’s Why I’m Not Worried About the Payout.
• Positive Sentiment: AI-related power demand could create growth opportunities. Alpha Wealth Funds highlighted ET’s positioning to benefit from the expected surge in electricity consumption from artificial-intelligence infrastructure, potentially increasing demand for natural gas and related energy services. Energy Transfer Positions to Capitalize on the AI Power Surge
• Positive Sentiment: Analyst and insider signals are favorable. Truist Financial forecast strong potential price appreciation, while separate coverage said ET shares benefited from insider buying activity. These signals may strengthen investor confidence, although they do not guarantee future performance. Truist Financial Forecasts Strong Price Appreciation for Energy Transfer Stock Energy Transfer Stock Price Up on Insider Buying Activity
• Neutral Sentiment: Natural-gas prices moved higher. Warmer-weather forecasts helped lift natural-gas prices, which could improve industry sentiment. However, ET’s diversified, largely fee-based midstream model may limit the direct effect of commodity-price changes. Nat-Gas Prices Close Higher on Warm Forecasts
• Negative Sentiment: Zacks downgraded ET from “strong buy” to “hold.” The rating change is a modest headwind and may encourage some investors to take profits after the stock’s recent momentum. Zacks.com

Insider Buying and Selling

In related news, Director James Richard Perry purchased 12,359 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average price of $20.23 per share, with a total value of $250,022.57. Following the completion of the transaction, the director owned 208,046 shares of the company’s stock, valued at approximately $4,208,770.58. This trade represents a 6.32% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.28% of the company’s stock.

About Energy Transfer

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.