Whalen Wealth Management Inc. Buys New Shares in Energy Transfer LP $ET

Whalen Wealth Management Inc. bought a new position in shares of Energy Transfer LP (NYSE:ET) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 27,714 shares of the pipeline company’s stock, valued at approximately $530,000.

Other large investors have also bought and sold shares of the company. Morgan Stanley increased its stake in 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 purchasing an additional 25,366,594 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of Energy Transfer by 8.0% during the fourth quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock valued at $1,382,573,000 after purchasing an additional 6,192,066 shares during the period. Mizuho Markets Americas LLC bought a new position in shares of Energy Transfer during the 1st quarter worth about $61,760,000. SCS Capital Management LLC boosted its position in shares of Energy Transfer by 1,859.8% during the 2nd quarter. SCS Capital Management LLC now owns 1,942,908 shares of the pipeline company’s stock worth $37,148,000 after purchasing an additional 1,843,771 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of 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 buying an additional 1,773,042 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Kelcy L. Warren bought 647,968 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were bought at an average price of $21.26 per share, for a total transaction of $13,775,799.68. Following the completion of the acquisition, the director directly owned 147,901,879 shares of the company’s stock, valued at $3,144,393,947.54. This trade represents a 0.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Richard Perry bought 12,359 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average cost of $20.23 per share, for a total transaction of $250,022.57. Following the transaction, the director owned 208,046 shares of the company’s stock, valued at $4,208,770.58. The trade was a 6.32% 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 worth $21,513,543 in the last 90 days. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Trading Down 0.5%

NYSE:ET opened at $21.09 on Tuesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94. Energy Transfer LP has a one year low of $16.18 and a one year high of $21.64. The company has a market cap of $72.62 billion, a PE ratio of 14.35, a PEG ratio of 0.74 and a beta of 0.55. The firm has a 50-day moving average of $20.02 and a 200-day moving average of $19.45.

Energy Transfer (NYSE: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 business had revenue of $34.33 billion for the quarter, compared to analysts’ expectations of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The firm’s revenue for the quarter was up 78.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 EPS. As a group, equities research analysts expect that Energy Transfer LP will post 1.66 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 6.4%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, August 7th. Energy Transfer’s dividend payout ratio (DPR) is currently 92.52%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Jefferies Financial Group reiterated a “buy” rating on shares of Energy Transfer in a report on Wednesday, August 5th. 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 research note on Tuesday, July 21st. Zacks Research lowered Energy Transfer from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Barclays reaffirmed an “overweight” rating and set a $24.00 target price (up from $23.00) on shares of Energy Transfer in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.08.

Energy Transfer 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.