Energy Transfer LP $ET Shares Acquired by Militia Capital Partners LP
Militia Capital Partners LP increased its stake in Energy Transfer LP (NYSE:ET) by 37.6% in Q1, owning 415,000 shares after acquiring an additional 113,400 shares. This investment represents 6.1% of Militia's portfolio, valued at $7.7 million. Other investors, including Brighton Jones LLC and Ameriprise Financial, also raised their holdings in Energy Transfer. The stock opened at $17.45, with a market cap of $59.9 billion and a P/E ratio of 13.53. Energy Transfer recently declared a quarterly dividend of $0.33, yielding 7.6%.
Militia Capital Partners LP boosted its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 37.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 415,000 shares of the pipeline company's stock after purchasing an additional 113,400 shares during the period. Energy Transfer makes up 6.1% of Militia Capital Partners LP's portfolio, making the stock its 2nd biggest position. Militia Capital Partners LP's holdings in Energy Transfer were worth $7,715,000 at the end of the most recent quarter.
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A number of other large investors have also added to or reduced their stakes in ET. Brighton Jones LLC grew its holdings in Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock valued at $481,000 after purchasing an additional 11,844 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Energy Transfer by 11.6% during the 4th quarter. Ameriprise Financial Inc. now owns 389,075 shares of the pipeline company's stock valued at $7,622,000 after purchasing an additional 40,329 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in Energy Transfer by 62.9% during the 4th quarter. Nuveen Asset Management LLC now owns 2,830,861 shares of the pipeline company's stock valued at $55,457,000 after purchasing an additional 1,093,585 shares in the last quarter. NorthRock Partners LLC acquired a new stake in Energy Transfer during the 4th quarter valued at $755,000. Finally, Second Line Capital LLC grew its holdings in Energy Transfer by 9.4% during the 4th quarter. Second Line Capital LLC now owns 25,728 shares of the pipeline company's stock valued at $504,000 after purchasing an additional 2,219 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.
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Energy Transfer Trading Down 0.2%
Energy Transfer stock opened at $17.45 on Friday. The firm's 50-day moving average is $17.55 and its 200-day moving average is $17.66. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The company has a market cap of $59.90 billion, a P/E ratio of 13.53, a PEG ratio of 1.00 and a beta of 0.85.
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Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company had revenue of $19.24 billion for the quarter, compared to the consensus estimate of $24.07 billion. During the same period last year, the firm posted $0.35 EPS. The company's revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.
Energy Transfer Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date was Friday, August 8th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is 102.33%.
Insider Activity
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In other Energy Transfer news, Director Kelcy L. Warren purchased 1,350,000 shares of Energy Transfer stock in a transaction dated Wednesday, August 20th. The shares were bought at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the transaction, the director owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This represents a 1.99% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.28% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Scotiabank initiated coverage on shares of Energy Transfer in a report on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 price target for the company. Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating on the stock. Wells Fargo & Company reiterated an "overweight" rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. JPMorgan Chase & Co. reduced their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Finally, TD Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating and a $22.00 price objective on the stock. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Energy Transfer has a consensus rating of "Moderate Buy" and a consensus target price of $22.54.
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Energy Transfer Company Profile
(Free Report)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.
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