Energy Transfer LP $ET Shares Newly Bought by Sanders Morris Harris LLC

Sanders Morris Harris LLC acquired a new position in Energy Transfer LP (NYSEAMERICAN:ET) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 134,348 shares of the pipeline company’s stock, valued at approximately $2,696,000.

Other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE boosted its position in Energy Transfer by 5.7% in the first quarter. Bank of America Corp DE now owns 30,956,358 shares of the pipeline company’s stock valued at $597,458,000 after buying an additional 1,656,609 shares during the last quarter. Energy Income Partners LLC raised its position in Energy Transfer by 1.8% during the 2nd quarter. Energy Income Partners LLC now owns 25,654,536 shares of the pipeline company’s stock worth $490,515,000 after buying an additional 447,081 shares during the last quarter. Recurrent Investment Advisors LLC lifted its stake in Energy Transfer by 3.9% during the 1st quarter. Recurrent Investment Advisors LLC now owns 5,562,381 shares of the pipeline company’s stock valued at $107,354,000 after acquiring an additional 211,026 shares during the period. BlackRock Inc. raised its stake in shares of Energy Transfer by 0.4% during the 2nd quarter. BlackRock Inc. now owns 4,017,925 shares of the pipeline company’s stock valued at $76,823,000 after buying an additional 16,926 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Energy Transfer by 14.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,544,553 shares of the pipeline company’s stock worth $74,940,000 after buying an additional 578,137 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of Energy Transfer stock traded down $0.23 during trading hours on Wednesday, reaching $20.25. The stock had a trading volume of 8,115,280 shares, compared to its average volume of 12,325,613. The stock’s 50 day moving average is $20.91 and its 200 day moving average is $20.02. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45. Energy Transfer LP has a twelve month low of $16.18 and a twelve month high of $21.84. The firm has a market capitalization of $69.73 billion, a PE ratio of 13.78 and a beta of 0.60.

Energy Transfer (NYSEAMERICAN:ET) last announced its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.21. The firm had revenue of $34.33 billion during the quarter, compared to analyst estimates of $27.71 billion. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%. Energy Transfer’s revenue for the quarter was up 78.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 EPS. Equities analysts expect that Energy Transfer LP will post 1.73 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.3375. This represents a $1.36 annualized dividend and a yield of 6.7%. Energy Transfer’s dividend payout ratio is 92.52%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ET. TD Cowen reiterated a “buy” rating and set a $25.00 price target (up from $24.00) on shares of Energy Transfer in a research report on Monday, August 10th. Citigroup restated a “buy” rating and issued a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research report on Friday, August 7th. Zacks Research lowered Energy Transfer from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Melius Research initiated coverage on shares of Energy Transfer in a research note on Tuesday, September 22nd. They set a “hold” rating and a $25.00 price objective on the stock. Finally, Stifel Nicolaus started coverage on shares of Energy Transfer in a report on Thursday, September 10th. They set a “buy” rating and a $25.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target of $24.60.

Insider Buying and Selling

In other Energy Transfer news, Director James Perry bought 12,359 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were purchased at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the transaction, the director directly owned 208,046 shares of the company’s stock, valued at approximately $4,208,770.58. This represents a 6.32% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kelcy L. Warren bought 647,968 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were acquired at an average price of $21.26 per share, for a total transaction of $13,775,799.68. Following the transaction, 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. Insiders bought 1,012,359 shares of company stock valued at $21,513,543 over the last 90 days. Company insiders own 3.28% of the company’s stock.

Energy Transfer Company Profile

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.