SeedSafe Financial LLC Invests $461,000 in Energy Transfer LP $ET

SeedSafe Financial LLC bought a new position in Energy Transfer LP (NYSE:ET) during the second quarter, according to its most recent filing with the SEC. The firm bought 24,124 shares of the pipeline company’s stock, valued at approximately $461,000. Energy Transfer makes up 0.3% of SeedSafe Financial LLC’s investment portfolio, making the stock its 29th largest holding.

Other hedge funds have also bought and sold shares of the company. Morgan Stanley lifted its stake in shares of Energy Transfer by 41.6% in the fourth quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock valued at $1,423,256,000 after buying an additional 25,366,594 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of Energy Transfer by 8.0% in the 4th quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock worth $1,382,573,000 after acquiring an additional 6,192,066 shares during the last quarter. Invesco Ltd. lifted its position in Energy Transfer by 3.2% in the 3rd quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock valued at $992,923,000 after acquiring an additional 1,773,042 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its position in Energy Transfer by 0.3% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 38,675,828 shares of the pipeline company’s stock valued at $637,764,000 after acquiring an additional 103,245 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Energy Transfer by 5.7% during the 1st quarter. Bank of America Corp DE now owns 30,956,358 shares of the pipeline company’s stock valued at $597,458,000 after purchasing an additional 1,656,609 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. JPMorgan Chase & Co. boosted their price target on shares of Energy Transfer from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Zacks Research downgraded Energy Transfer from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.17.

Insider Transactions at Energy Transfer

In other news, Director James Perry bought 12,359 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average price of $20.23 per share, with a total value of $250,022.57. Following the acquisition, the director owned 208,046 shares of the company’s stock, valued at approximately $4,208,770.58. The trade was a 6.32% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kelcy L. Warren bought 647,968 shares of the stock in a transaction on Wednesday, August 19th. The stock was purchased at an average price of $21.26 per share, for a total transaction of $13,775,799.68. Following the completion of the purchase, the director directly owned 147,901,879 shares in the company, valued at approximately $3,144,393,947.54. This represents a 0.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 1,012,359 shares of company stock worth $21,513,543. Insiders own 3.28% of the company’s stock.

Energy Transfer Price Performance

Shares of NYSE ET opened at $21.52 on Friday. The stock has a market cap of $74.10 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.73 and a beta of 0.57. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $21.77. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. The stock has a fifty day moving average of $20.46 and a 200-day moving average of $19.64.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.21. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The business had revenue of $34.33 billion for the quarter, compared to analysts’ expectations of $27.71 billion. During the same quarter in the prior year, the firm posted $0.32 EPS. The firm’s quarterly revenue was up 78.4% on a year-over-year basis. Equities research analysts anticipate that Energy Transfer LP will post 1.7 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were given a dividend of $0.34 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.36 annualized dividend and a dividend yield of 6.3%. The ex-dividend date was Friday, August 7th. Energy Transfer’s dividend payout ratio (DPR) is currently 92.52%.

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.