Tema Etfs LLC Takes $2.11 Million Position in Energy Transfer LP $ET

Tema Etfs LLC bought a new position in shares of Energy Transfer LP (NYSE:ET) during the 2nd quarter, Holdings Channel.com reports. The firm bought 116,114 shares of the pipeline company’s stock, valued at approximately $2,105,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Ryan Investment Management Inc. purchased a new stake in Energy Transfer in the 2nd quarter valued at about $31,000. CNB Bank lifted its holdings in shares of Energy Transfer by 111.1% during the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 1,000 shares during the period. Stone House Investment Management LLC acquired a new stake in shares of Energy Transfer in the first quarter worth approximately $38,000. HHM Wealth Advisors LLC boosted its position in shares of Energy Transfer by 54.4% in the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 800 shares during the last quarter. Finally, Crowley Wealth Management Inc. purchased a new stake in Energy Transfer in the second quarter valued at approximately $44,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Energy Transfer

In other news, Director Kelcy L. Warren bought 1,000,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was acquired at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the purchase, the director owned 104,577,803 shares of the company’s stock, valued at $1,772,593,760.85. This trade represents a 0.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.28% of the company’s stock.

Energy Transfer Price Performance

Shares of NYSE ET opened at $16.78 on Friday. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The business has a 50-day moving average of $16.75 and a 200-day moving average of $17.35. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.41 and a quick ratio of 1.14. The company has a market capitalization of $57.61 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.01 and a beta of 0.65.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.06). The company had revenue of $19.95 billion for the quarter, compared to analysts’ expectations of $21.84 billion. Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 earnings per share. On average, equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Friday, November 7th were given a dividend of $0.3325 per share. The ex-dividend date of this dividend was Friday, November 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 dividend on an annualized basis and a dividend yield of 7.9%. Energy Transfer’s dividend payout ratio is presently 106.40%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ET. Morgan Stanley cut their price target on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday. UBS Group reaffirmed a “buy” rating and issued a $22.00 target price on shares of Energy Transfer in a research report on Wednesday, October 15th. Barclays reiterated an “overweight” rating and issued a $25.00 target price on shares of Energy Transfer in a report on Wednesday, October 15th. Scotiabank dropped their price target on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a research note on Thursday, November 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $21.62.

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.