Tred Avon Family Wealth LLC Takes $893,000 Position in Energy Transfer LP $ET

Tred Avon Family Wealth LLC purchased a new position in Energy Transfer LP (NYSE:ET) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 52,036 shares of the pipeline company’s stock, valued at approximately $893,000.

Other large investors also recently bought and sold shares of the company. CNB Bank grew its position in Energy Transfer by 111.1% in the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 1,000 shares during the last quarter. HHM Wealth Advisors LLC grew its holdings 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 purchasing an additional 800 shares during the last quarter. Crowley Wealth Management Inc. purchased a new position in Energy Transfer in the 2nd quarter worth about $44,000. FSC Wealth Advisors LLC bought a new stake in Energy Transfer during the 2nd quarter valued at about $50,000. Finally, Oakworth Capital Inc. purchased a new stake in Energy Transfer in the 2nd quarter valued at about $52,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of ET stock opened at $17.33 on Friday. The stock’s 50-day moving average is $16.64 and its 200 day moving average is $17.07. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. 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 cap of $59.50 billion, a P/E ratio of 13.86, a PEG ratio of 0.90 and a beta of 0.66.

Energy Transfer (NYSE:ET) last released its quarterly 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). Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The firm had revenue of $19.95 billion for the quarter, compared to analysts’ expectations of $21.84 billion. During the same period in the previous year, the company posted $0.32 earnings per share. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. Research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were issued a $0.3325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Friday, November 7th. Energy Transfer’s dividend payout ratio is presently 106.40%.

Insider Activity

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

Analysts Set New Price Targets

Several research firms have recently weighed in on ET. Royal Bank Of Canada raised shares of Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th. Morgan Stanley decreased their target price on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, December 2nd. Barclays reiterated an “overweight” rating and issued a $22.00 target price (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. Jefferies Financial Group set a $17.00 price target on Energy Transfer and gave the company a “hold” rating in a research note on Tuesday, October 28th. Finally, UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.50.

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.