Energy Transfer LP (NYSE:ET) Shares Purchased by Mattern Wealth Management LLC

Mattern Wealth Management LLC boosted its stake in Energy Transfer LP (NYSE:ET) by 10.3% in the 3rd quarter, Holdings Channel reports. The firm owned 39,688 shares of the pipeline company’s stock after purchasing an additional 3,700 shares during the period. Mattern Wealth Management LLC’s holdings in Energy Transfer were worth $637,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. increased its holdings in Energy Transfer by 12.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after purchasing an additional 4,141,715 shares during the period. Natixis grew its position in shares of Energy Transfer by 20.0% during the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after buying an additional 2,999,300 shares in the last quarter. Payden & Rygel Investment Group purchased a new stake in shares of Energy Transfer during the first quarter worth approximately $20,164,000. Merewether Investment Management LP raised its holdings in Energy Transfer by 22.3% in the second quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock valued at $106,919,000 after acquiring an additional 1,200,501 shares in the last quarter. Finally, Progeny 3 Inc. lifted its stake in Energy Transfer by 104.6% in the first quarter. Progeny 3 Inc. now owns 2,205,785 shares of the pipeline company’s stock worth $34,697,000 after acquiring an additional 1,127,500 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

ET stock traded up $0.01 on Tuesday, hitting $16.41. The company’s stock had a trading volume of 4,297,155 shares, compared to its average volume of 13,080,033. The stock has a market cap of $55.30 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. The firm has a 50 day moving average of $16.12 and a two-hundred day moving average of $15.95. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. Energy Transfer LP has a 1 year low of $12.90 and a 1 year high of $16.64.

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

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 7.80%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

Insider Buying and Selling at Energy Transfer

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Bank of America initiated coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, UBS Group increased their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Buy” and a consensus target price of $20.00.

Energy Transfer 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.