Key Client Fiduciary Advisors LLC Makes New Investment in Energy Transfer LP (NYSE:ET)

Key Client Fiduciary Advisors LLC purchased a new position in shares of Energy Transfer LP (NYSE:ET) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,804 shares of the pipeline company’s stock, valued at approximately $191,000.

A number of other large investors also recently bought and sold shares of the stock. Rehmann Capital Advisory Group raised its stake in Energy Transfer by 2.0% during the first quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock worth $505,000 after purchasing an additional 633 shares during the period. Sfmg LLC raised its stake in shares of Energy Transfer by 2.2% in the 1st quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock valued at $494,000 after acquiring an additional 674 shares during the period. Morton Capital Management LLC CA raised its stake in shares of Energy Transfer by 1.6% in the 2nd quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock valued at $720,000 after acquiring an additional 699 shares during the period. FinTrust Capital Advisors LLC raised its stake in shares of Energy Transfer by 3.6% in the 1st quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock valued at $318,000 after acquiring an additional 700 shares during the period. Finally, Essex Financial Services Inc. raised its stake in shares of Energy Transfer by 2.2% in the 1st quarter. Essex Financial Services Inc. now owns 33,569 shares of the pipeline company’s stock valued at $528,000 after acquiring an additional 708 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

ET has been the topic of a number of research reports. UBS Group raised their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Morgan Stanley raised their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Mizuho raised their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Stifel Nicolaus raised their target price on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.29.

Insider Activity

In other news, Director Kelcy L. Warren bought 3,000,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Kelcy L. Warren purchased 3,000,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Thomas E. Long purchased 20,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the chief executive officer now owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. The disclosure for this purchase can be found here. Company insiders own 3.28% of the company’s stock.

Energy Transfer Stock Up 2.4 %

Energy Transfer stock traded up $0.38 during midday trading on Wednesday, hitting $15.96. 19,024,724 shares of the stock were exchanged, compared to its average volume of 13,541,625. The firm has a market cap of $53.79 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.42 and a beta of 1.66. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. Energy Transfer LP has a 1 year low of $12.46 and a 1 year high of $16.50. The company has a 50 day moving average price of $15.97 and a two-hundred day moving average price of $15.53.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. Energy Transfer’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 earnings per share. On average, sell-side analysts predict that Energy Transfer LP will post 1.49 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Friday, August 9th will be issued a $0.32 dividend. The ex-dividend date is Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a dividend yield of 8.02%. Energy Transfer’s payout ratio is 117.43%.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.