Energy Transfer LP (NYSE:ET) Shares Bought by Stockman Wealth Management Inc.

Stockman Wealth Management Inc. raised its position in Energy Transfer LP (NYSE:ET) by 7.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,684 shares of the pipeline company’s stock after purchasing an additional 4,600 shares during the quarter. Stockman Wealth Management Inc.’s holdings in Energy Transfer were worth $719,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased its stake in shares of Energy Transfer by 2.8% in the first quarter. Rockefeller Capital Management L.P. now owns 1,874,510 shares of the pipeline company’s stock valued at $14,396,000 after purchasing an additional 51,083 shares during the period. Cushing Asset Management LP increased its stake in shares of Energy Transfer by 34.7% during the first quarter. Cushing Asset Management LP now owns 7,978,245 shares of the pipeline company’s stock valued at $61,273,000 after acquiring an additional 2,053,900 shares during the period. Pin Oak Investment Advisors Inc. increased its stake in shares of Energy Transfer by 46.6% during the first quarter. Pin Oak Investment Advisors Inc. now owns 302,241 shares of the pipeline company’s stock valued at $2,321,000 after acquiring an additional 96,119 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Energy Transfer by 6.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 534,690 shares of the pipeline company’s stock valued at $4,106,000 after acquiring an additional 33,370 shares during the period. Finally, LexAurum Advisors LLC acquired a new position in shares of Energy Transfer during the second quarter valued at approximately $616,000. Institutional investors own 37.96% of the company’s stock.

ET has been the topic of a number of research analyst reports. Wolfe Research upgraded shares of Energy Transfer from a “peer perform” rating to an “outperform” rating and raised their price objective for the company from $12.00 to $13.00 in a research note on Friday, July 16th. Zacks Investment Research lowered shares of Energy Transfer from a “buy” rating to a “hold” rating in a research note on Friday, August 6th. Raymond James raised their price objective on shares of Energy Transfer from $12.00 to $13.00 and gave the company a “strong-buy” rating in a research note on Wednesday, July 21st. Tudor Pickering upgraded shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Tuesday, September 21st. Finally, Citigroup raised their target price on shares of Energy Transfer from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 14th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $12.75.

Energy Transfer stock traded up $0.31 during midday trading on Monday, reaching $9.59. The stock had a trading volume of 169,844 shares, compared to its average volume of 17,794,072. The firm’s fifty day simple moving average is $9.44 and its two-hundred day simple moving average is $9.42. Energy Transfer LP has a twelve month low of $4.98 and a twelve month high of $11.55. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.96 and a quick ratio of 0.77. The firm has a market cap of $25.94 billion, a price-to-earnings ratio of 7.08 and a beta of 2.50.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, August 3rd. The pipeline company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.06). Energy Transfer had a return on equity of 16.03% and a net margin of 6.99%. The firm had revenue of $15.10 billion during the quarter, compared to analyst estimates of $15.54 billion. As a group, sell-side analysts predict that Energy Transfer LP will post 1.72 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 19th. Investors of record on Friday, August 6th were paid a $0.1525 dividend. This represents a $0.61 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date was Thursday, August 5th. Energy Transfer’s dividend payout ratio is -338.89%.

In related news, Chairman Kelcy L. Warren bought 949,542 shares of the firm’s stock in a transaction on Friday, August 6th. The stock was bought at an average price of $9.35 per share, with a total value of $8,878,217.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ray W. Washburne purchased 100,000 shares of the business’s stock in a transaction dated Thursday, August 19th. The shares were acquired at an average price of $8.90 per share, for a total transaction of $890,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 2,218,870 shares of company stock valued at $20,493,175 in the last ninety days. Company insiders own 3.28% of the company’s stock.

Energy Transfer Profile

Energy Transfer LP provides natural gas pipeline transportation and transmission services. It operates through the following segments: Intrastate Transportation and Storage, Interstate Transportation and Storage, Midstream, NGL and Refined Products Transportation and Services, Crude Oil Transportation and Services, Investment in Sunoco LP, Investment in USAC, and All Other.

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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