N10 Wealth LLC Buys New Stake in Energy Transfer LP $ET

N10 Wealth LLC bought a new stake in Energy Transfer LP (NYSEAMERICAN:ET) in the 3rd quarter, Holdings Channel.com reports. The fund bought 40,000 shares of the pipeline company’s stock, valued at approximately $791,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Osbon Capital Management LLC purchased a new position in shares of Energy Transfer during the second quarter worth $25,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Energy Transfer in the 1st quarter valued at $35,000. Financial Life Planners acquired a new position in Energy Transfer during the 1st quarter worth about $40,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Energy Transfer during the 2nd quarter worth about $42,000. Finally, Bullseye Investment Management LLC acquired a new position in Energy Transfer during the 2nd quarter worth about $42,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on ET shares. Wall Street Zen upgraded Energy Transfer from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Mizuho set a $26.00 price target on shares of Energy Transfer in a research note on Tuesday. Truist Financial increased their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Zacks Research lowered shares of Energy Transfer from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings raised shares of Energy Transfer from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.60.

Insider Activity

In related news, Director James Perry purchased 12,359 shares of the business’s stock in a transaction on Friday, August 7th. The shares were bought at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the acquisition, the director directly owned 208,046 shares in the company, 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Kelcy Warren purchased 647,968 shares of Energy Transfer stock in a transaction on Wednesday, August 19th. The stock was bought at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the transaction, the director directly owned 147,901,879 shares in the company, valued at $3,144,393,947.54. This represents a 0.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have acquired 1,012,359 shares of company stock worth $21,513,543. 3.28% of the stock is owned by company insiders.

Energy Transfer Stock Down 0.8%

Shares of NYSEAMERICAN:ET traded down $0.15 during trading on Wednesday, hitting $20.32. The company’s stock had a trading volume of 3,647,737 shares, compared to its average volume of 12,298,712. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $21.84. The business has a 50 day moving average price of $20.91 and a two-hundred day moving average price of $20.02. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. The company has a market capitalization of $69.99 billion, a PE ratio of 13.83 and a beta of 0.60.

Energy Transfer (NYSEAMERICAN:ET) last announced its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) 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 return on equity of 11.55% and a net margin of 4.87%. The company’s revenue for the quarter was up 78.4% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. As a group, research analysts expect that Energy Transfer LP will post 1.73 EPS for the current fiscal year.

Energy Transfer Increases Dividend

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

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.