Shulman DeMeo Asset Management LLC Buys Shares of 10,777 Energy Transfer LP (NYSE:ET)

Shulman DeMeo Asset Management LLC bought a new stake in Energy Transfer LP (NYSE:ET) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,777 shares of the pipeline company’s stock, valued at approximately $173,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. grew its stake in Energy Transfer by 12.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after acquiring an additional 4,141,715 shares during the period. Natixis boosted 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 during the period. Westwood Holdings Group Inc. boosted its position in shares of Energy Transfer by 1.1% during the second quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock worth $261,263,000 after buying an additional 171,720 shares during the period. Chickasaw Capital Management LLC boosted its position in shares of Energy Transfer by 3.1% during the third quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock worth $246,376,000 after buying an additional 466,565 shares during the period. Finally, Merewether Investment Management LP boosted its position in shares of Energy Transfer by 22.3% during the second quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock worth $106,919,000 after buying an additional 1,200,501 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Down 1.1 %

ET traded down $0.18 on Tuesday, hitting $16.37. 18,665,604 shares of the company were exchanged, compared to its average volume of 13,161,426. Energy Transfer LP has a 12 month low of $12.90 and a 12 month high of $16.64. The company has a market cap of $55.17 billion, a PE ratio of 15.10, a PEG ratio of 0.50 and a beta of 1.66. 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’s fifty day moving average is $16.07 and its 200-day moving average is $15.93.

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

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders 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. The ex-dividend date was Friday, August 9th. This represents a $1.28 annualized dividend and a yield of 7.82%. Energy Transfer’s dividend payout ratio is currently 117.43%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ET. JPMorgan Chase & Co. upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. UBS Group upped their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Mizuho upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Energy Transfer presently has a consensus rating of “Buy” and a consensus price target of $20.00.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer 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 purchased at an average price 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 represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Thomas E. Long purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the chief executive officer now owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kelcy L. Warren purchased 3,000,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the purchase, the director now directly 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 have acquired 3,040,000 shares of company stock worth $47,667,200 over the last 90 days. Company insiders own 3.28% of the company’s stock.

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.