Tidal Investments LLC Increases Stake in Energy Transfer LP $ET

Tidal Investments LLC increased its stake in Energy Transfer LP (NYSE:ET) by 56.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,611,509 shares of the pipeline company’s stock after purchasing an additional 583,196 shares during the period. Tidal Investments LLC’s holdings in Energy Transfer were worth $30,812,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Morgan Stanley raised its holdings in shares of Energy Transfer by 41.6% in the fourth quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock worth $1,423,256,000 after buying an additional 25,366,594 shares during the last quarter. Alps Advisors Inc. grew 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 buying an additional 6,192,066 shares during the last quarter. Mizuho Markets Americas LLC purchased a new stake in shares of Energy Transfer during the first quarter valued at $61,760,000. SCS Capital Management LLC increased its position in shares of Energy Transfer by 1,859.8% in the 2nd quarter. SCS Capital Management LLC now owns 1,942,908 shares of the pipeline company’s stock valued at $37,148,000 after acquiring an additional 1,843,771 shares during the period. Finally, Invesco Ltd. raised its stake in Energy Transfer by 3.2% in the 3rd quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock worth $992,923,000 after acquiring an additional 1,773,042 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Insider Transactions at Energy Transfer

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

Energy Transfer Price Performance

Shares of ET opened at $21.70 on Thursday. The company has a market capitalization of $74.70 billion, a P/E ratio of 14.76, a P/E/G ratio of 0.73 and a beta of 0.57. The business’s 50-day moving average is $20.61 and its two-hundred day moving average is $19.70. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $21.77.

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. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The company had revenue of $34.33 billion during the quarter, compared to analysts’ expectations of $27.71 billion. During the same period last year, the business earned $0.32 earnings per share. Energy Transfer’s quarterly revenue was up 78.4% on a year-over-year basis. Research analysts predict that Energy Transfer LP will post 1.7 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared 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 is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.36 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date was Friday, August 7th. Energy Transfer’s dividend payout ratio (DPR) is currently 92.52%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ET. Zacks Research cut Energy Transfer from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Royal Bank Of Canada restated 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. Truist Financial lifted their target price on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Morgan Stanley upped their target price on Energy Transfer from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 18th. Finally, Barclays reiterated an “overweight” rating and issued a $24.00 price target (up from $23.00) on shares of Energy Transfer in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $24.17.

About Energy Transfer

Energy Transfer LP (NYSE: ET) is a diversified midstream energy partnership that owns and operates infrastructure used to transport, store, process and market energy commodities. Its assets support the movement of natural gas, crude oil, natural gas liquids (NGLs), refined products and other hydrocarbon-based materials.

The company’s operations include natural gas gathering and processing, interstate and intrastate pipeline transportation, NGL fractionation and storage, crude oil and refined products transportation, and terminal services.