Corient Private Wealth LLC Buys 9,413 Shares of Energy Transfer LP (NYSE:ET)

Corient Private Wealth LLC increased its position in Energy Transfer LP (NYSE:ETFree Report) by 0.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,597,576 shares of the pipeline company’s stock after buying an additional 9,413 shares during the quarter. Corient Private Wealth LLC’s holdings in Energy Transfer were worth $22,414,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. MGO One Seven LLC grew its stake in Energy Transfer by 32.8% in the 3rd quarter. MGO One Seven LLC now owns 15,003 shares of the pipeline company’s stock worth $210,000 after acquiring an additional 3,704 shares in the last quarter. Bahl & Gaynor Inc. boosted its stake in shares of Energy Transfer by 15.2% during the third quarter. Bahl & Gaynor Inc. now owns 227,800 shares of the pipeline company’s stock valued at $3,196,000 after purchasing an additional 30,000 shares in the last quarter. SageView Advisory Group LLC boosted its stake in shares of Energy Transfer by 4.4% during the third quarter. SageView Advisory Group LLC now owns 28,532 shares of the pipeline company’s stock valued at $400,000 after purchasing an additional 1,196 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Energy Transfer by 6.3% during the third quarter. Private Advisor Group LLC now owns 381,948 shares of the pipeline company’s stock valued at $5,349,000 after purchasing an additional 22,759 shares in the last quarter. Finally, Advisor OS LLC boosted its stake in shares of Energy Transfer by 2.5% during the third quarter. Advisor OS LLC now owns 44,952 shares of the pipeline company’s stock valued at $631,000 after purchasing an additional 1,090 shares in the last quarter. Institutional investors own 33.79% of the company’s stock.

Energy Transfer Stock Performance

Shares of Energy Transfer stock traded up $0.19 during trading on Friday, hitting $14.47. 16,083,450 shares of the company’s stock were exchanged, compared to its average volume of 13,138,732. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 1.05. The business has a 50-day simple moving average of $13.77 and a 200-day simple moving average of $13.52. Energy Transfer LP has a 52-week low of $11.45 and a 52-week high of $14.48. The stock has a market capitalization of $45.51 billion, a price-to-earnings ratio of 13.64 and a beta of 1.64.

Energy Transfer (NYSE:ETGet Free Report) last released its quarterly earnings results on Wednesday, November 1st. The pipeline company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. Energy Transfer had a net margin of 4.66% and a return on equity of 11.98%. The company had revenue of $20.74 billion for the quarter, compared to analyst estimates of $21.68 billion. On average, research analysts forecast that Energy Transfer LP will post 1.21 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th will be given a $0.315 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, February 6th. This represents a $1.26 annualized dividend and a dividend yield of 8.71%. Energy Transfer’s dividend payout ratio (DPR) is 117.92%.

Wall Street Analyst Weigh In

ET has been the topic of a number of recent research reports. Pickering Energy Partners initiated coverage on shares of Energy Transfer in a research note on Tuesday, October 3rd. They set an “outperform” rating on the stock. JPMorgan Chase & Co. increased their target price on shares of Energy Transfer from $17.00 to $18.00 in a research report on Tuesday, October 10th. Finally, The Goldman Sachs Group started coverage on shares of Energy Transfer in a research report on Thursday, October 5th. They set a “neutral” rating and a $14.00 target price for the company. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $16.57.

Get Our Latest Stock Report on ET

Insider Activity

In other Energy Transfer news, EVP Thomas P. Mason purchased 7,500 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were purchased at an average cost of $13.33 per share, with a total value of $99,975.00. Following the completion of the purchase, the executive vice president now owns 1,707,720 shares in the company, valued at approximately $22,763,907.60. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Chairman Kelcy L. Warren purchased 1,000,000 shares of Energy Transfer stock in a transaction dated Monday, November 6th. The shares were acquired at an average cost of $13.53 per share, with a total value of $13,530,000.00. Following the purchase, the chairman now owns 65,578,477 shares of the company’s stock, valued at $887,276,793.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Thomas P. Mason purchased 7,500 shares of Energy Transfer stock in a transaction dated Tuesday, November 7th. The stock was bought at an average cost of $13.33 per share, for a total transaction of $99,975.00. Following the completion of the purchase, the executive vice president now directly owns 1,707,720 shares in the company, valued at approximately $22,763,907.60. The disclosure for this purchase can be found here. Company insiders own 3.28% of the company’s stock.

Energy Transfer Company Profile

(Free Report)

Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,945 miles of interstate natural gas pipeline.

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

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