Fiduciary Group LLC Has $569,000 Stake in Energy Transfer LP (NYSE:ET)

Fiduciary Group LLC lifted its stake in Energy Transfer LP (NYSE:ET) by 14.9% in the second quarter, HoldingsChannel.com reports. The firm owned 35,058 shares of the pipeline company’s stock after purchasing an additional 4,543 shares during the quarter. Fiduciary Group LLC’s holdings in Energy Transfer were worth $569,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ET. Berkley W R Corp grew its holdings in Energy Transfer by 11.6% during the 1st quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock worth $83,912,000 after acquiring an additional 555,445 shares during the period. NBC Securities Inc. grew its stake in shares of Energy Transfer by 4.3% during the first quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock worth $886,000 after purchasing an additional 2,326 shares during the period. US Bancorp DE increased its holdings in Energy Transfer by 95.8% in the fourth quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock valued at $2,013,000 after purchasing an additional 71,386 shares during the last quarter. Cetera Investment Advisers lifted its stake in Energy Transfer by 491.3% in the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock valued at $20,297,000 after buying an additional 1,072,144 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in Energy Transfer during the fourth quarter worth about $1,368,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Up 1.1 %

ET stock opened at $16.17 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The stock has a market capitalization of $55.34 billion, a P/E ratio of 14.83, a P/E/G ratio of 0.46 and a beta of 1.66. Energy Transfer LP has a fifty-two week low of $12.90 and a fifty-two week high of $16.50. The business has a 50-day moving average of $16.06 and a 200-day moving average of $15.78.

Energy Transfer (NYSE:ET) last released its quarterly earnings results 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). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The firm had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. During the same period last year, the company earned $0.25 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.4 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a $0.32 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a yield of 7.92%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ET. Mizuho increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Morgan Stanley raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Finally, JPMorgan Chase & Co. increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.29.

Insiders Place Their Bets

In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Gregory G. Mcilwain bought 20,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were acquired 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 $9,270,188.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was purchased at an average price 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. The disclosure for this purchase can be found here. Insiders have acquired 3,040,000 shares of company stock valued at $47,667,200 in the last three months. 3.28% of the stock is currently owned by corporate 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.