Energy Transfer LP $ET Stock Bought by Oak Grove Capital LLC

Oak Grove Capital LLC lifted its holdings in Energy Transfer LP (NYSE:ET) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 943,209 shares of the pipeline company’s stock after purchasing an additional 48,500 shares during the quarter. Energy Transfer accounts for approximately 0.8% of Oak Grove Capital LLC’s investment portfolio, making the stock its 23rd biggest holding. Oak Grove Capital LLC’s holdings in Energy Transfer were worth $18,647,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. GK Wealth Management LLC acquired a new position in shares of Energy Transfer during the 3rd quarter worth about $59,000. Wedmont Private Capital bought a new stake in Energy Transfer during the third quarter worth about $289,000. Chapin Davis Inc. boosted its position in Energy Transfer by 1.5% during the third quarter. Chapin Davis Inc. now owns 105,426 shares of the pipeline company’s stock valued at $2,084,000 after purchasing an additional 1,521 shares during the last quarter. First Heartland Consultants Inc. grew its stake in Energy Transfer by 22.7% in the third quarter. First Heartland Consultants Inc. now owns 12,357 shares of the pipeline company’s stock valued at $244,000 after purchasing an additional 2,286 shares in the last quarter. Finally, Sapient Capital LLC increased its position in shares of Energy Transfer by 18.9% during the 3rd quarter. Sapient Capital LLC now owns 18,864 shares of the pipeline company’s stock worth $373,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

ET opened at $20.41 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $21.84. The business has a 50 day moving average of $20.91 and a 200-day moving average of $19.99. The stock has a market cap of $70.28 billion, a price-to-earnings ratio of 13.88 and a beta of 0.60.

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

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 6.7%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.3375. The ex-dividend date of this dividend was Friday, August 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 92.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Melius Research assumed coverage on Energy Transfer in a report on Tuesday, September 22nd. They issued a “hold” rating and a $25.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Energy Transfer from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, September 4th. Stifel Nicolaus assumed coverage on shares of Energy Transfer in a research report on Thursday, September 10th. They set a “buy” rating and a $25.00 price target on the stock. Weiss Ratings upgraded shares of Energy Transfer from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, September 8th. Finally, Zacks Research downgraded shares of Energy Transfer from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.50.

Insider Buying and Selling at Energy Transfer

In related news, Director James Perry bought 12,359 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the purchase, the director owned 208,046 shares in the company, valued at $4,208,770.58. This represents a 6.32% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kelcy L. Warren bought 647,968 shares of Energy Transfer stock in a transaction that occurred on Wednesday, August 19th. The shares were bought at an average cost of $21.26 per share, with a total value of $13,775,799.68. Following the acquisition, the director directly owned 147,901,879 shares in the company, valued at $3,144,393,947.54. This trade represents a 0.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 1,012,359 shares of company stock worth $21,513,543. Corporate insiders own 3.28% of the company’s stock.

About Energy Transfer

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.