Energy Transfer LP (NYSE:ET) Stock Position Boosted by Childress Capital Advisors LLC

Childress Capital Advisors LLC grew its position in shares of Energy Transfer LP (NYSE:ET) by 13.6% during the second quarter, HoldingsChannel reports. The firm owned 639,807 shares of the pipeline company’s stock after buying an additional 76,350 shares during the period. Energy Transfer accounts for approximately 2.9% of Childress Capital Advisors LLC’s holdings, making the stock its 10th largest holding. Childress Capital Advisors LLC’s holdings in Energy Transfer were worth $10,378,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ET. Northwest Financial Advisors acquired a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $25,000. LRI Investments LLC acquired a new stake in Energy Transfer in the first quarter valued at approximately $29,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Energy Transfer during the 4th quarter worth about $33,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Energy Transfer in the fourth quarter worth $34,000. Finally, Adirondack Trust Co. bought a new position in shares of Energy Transfer in the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ET. Mizuho lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. UBS Group upped their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. JPMorgan Chase & Co. increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Stifel Nicolaus raised their price target on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, Morgan Stanley raised their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Price Performance

Energy Transfer stock opened at $16.05 on Friday. Energy Transfer LP has a 52 week low of $12.90 and a 52 week high of $16.50. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The stock has a fifty day moving average of $16.11 and a 200-day moving average of $15.72. The stock has a market capitalization of $54.09 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 0.47 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 earnings per share. On average, sell-side analysts expect that Energy Transfer LP will post 1.4 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were paid a $0.32 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.98%. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s dividend payout ratio is currently 117.43%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the acquisition, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The disclosure for this purchase can be found here. Insiders bought a total of 3,040,000 shares of company stock worth $47,667,200 over the last three months. 3.28% of the stock is owned by company insiders.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.