Energy Transfer LP (NYSE:ET) Shares Bought by Veracity Capital LLC

Veracity Capital LLC raised its position in shares of Energy Transfer LP (NYSE:ET) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,255 shares of the pipeline company’s stock after acquiring an additional 680 shares during the quarter. Veracity Capital LLC’s holdings in Energy Transfer were worth $550,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LRI Investments LLC acquired a new position in Energy Transfer in the 1st quarter valued at $29,000. HWG Holdings LP purchased a new position in shares of Energy Transfer in the second quarter worth about $33,000. Sugarloaf Wealth Management LLC grew its stake in Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 750 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in Energy Transfer in the 2nd quarter valued at about $42,000. Finally, Hudson Edge Investment Partners Inc. purchased a new position in Energy Transfer in the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 0.5 %

NYSE ET opened at $16.41 on Friday. Energy Transfer LP has a 12 month low of $12.90 and a 12 month high of $16.64. The stock has a market capitalization of $55.30 billion, a P/E ratio of 15.06, a PEG ratio of 0.50 and a beta of 1.66. The firm’s 50-day moving average is $16.11 and its two-hundred day moving average is $15.95. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 7.80%. The ex-dividend date was Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 117.43%.

Insider Activity at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Gregory G. Mcilwain bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the acquisition, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average price 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 $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 3,040,000 shares of company stock worth $47,667,200 in the last three months. 3.28% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on ET shares. Bank of America assumed coverage on Energy Transfer in a report on Thursday. They issued a “buy” rating and a $20.00 price target for the company. Royal Bank of Canada lifted their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, UBS Group upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $20.00.

About Energy Transfer

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.