Sanders Morris Harris LLC Purchases 134,348 Shares of Energy Transfer LP $ET

Sanders Morris Harris LLC acquired a new stake in Energy Transfer LP (NYSEAMERICAN:ET) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 134,348 shares of the pipeline company’s stock, valued at approximately $2,696,000.

A number of other hedge funds also recently added to or reduced their stakes in ET. N10 Wealth LLC purchased a new stake in shares of Energy Transfer in the 3rd quarter worth approximately $791,000. Signal Advisors Wealth LLC increased its holdings in Energy Transfer by 13.3% during the third quarter. Signal Advisors Wealth LLC now owns 32,714 shares of the pipeline company’s stock valued at $647,000 after buying an additional 3,832 shares during the period. Ulrich Consultants & Investment Group LLC purchased a new position in Energy Transfer during the third quarter valued at approximately $1,007,000. Fermata Advisors LLC increased its holdings in Energy Transfer by 5.2% during the third quarter. Fermata Advisors LLC now owns 27,451 shares of the pipeline company’s stock valued at $543,000 after buying an additional 1,350 shares during the period. Finally, Oak Grove Capital LLC raised its stake in Energy Transfer by 5.4% in the third quarter. Oak Grove Capital LLC now owns 943,209 shares of the pipeline company’s stock worth $18,647,000 after buying an additional 48,500 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Energy Transfer news, Director James Perry acquired 12,359 shares of the stock in a transaction dated Friday, August 7th. The stock was purchased at an average price of $20.23 per share, with a total value of $250,022.57. Following the transaction, the director directly owned 208,046 shares of the company’s stock, valued at $4,208,770.58. This trade represents a 6.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kelcy Warren bought 647,968 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were acquired at an average price of $21.26 per share, for a total transaction of $13,775,799.68. Following the completion of the purchase, the director owned 147,901,879 shares in the company, valued at $3,144,393,947.54. The trade was a 0.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 1,012,359 shares of company stock valued at $21,513,543 in the last three months. Insiders own 3.28% of the company’s stock.

Energy Transfer Stock Down 1.1%

Shares of Energy Transfer stock traded down $0.23 on Wednesday, reaching $20.25. The stock had a trading volume of 8,115,280 shares, compared to its average volume of 12,325,613. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $69.73 billion, a P/E ratio of 13.78 and a beta of 0.60. The company has a 50 day moving average price of $20.91 and a 200 day moving average price of $20.02. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $21.84.

Energy Transfer (NYSEAMERICAN:ET) last posted its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The company had revenue of $34.33 billion during the quarter, compared to analysts’ expectations of $27.71 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. Energy Transfer’s revenue for the quarter was up 78.4% compared to the same quarter last year. As a group, equities research analysts forecast that Energy Transfer LP will post 1.73 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, August 7th. This represents a $1.36 annualized dividend and a dividend yield of 6.7%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.3375. Energy Transfer’s dividend payout ratio (DPR) is currently 92.52%.

Analyst Ratings Changes

A number of analysts have weighed in on ET shares. Capital One Financial assumed coverage on Energy Transfer in a report on Tuesday, September 22nd. They set an “overweight” rating and a $26.00 target price for the company. Truist Financial lifted their price target on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings raised Energy Transfer from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, September 8th. Royal Bank Of Canada restated an “outperform” rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, July 21st. Finally, Barclays restated an “overweight” rating and set a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.60.

Energy Transfer Company Profile

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.