Atomi Financial Group Inc. Acquires 3,472 Shares of Energy Transfer LP (NYSE:ET)

by · The Markets Daily

Atomi Financial Group Inc. raised its stake in shares of Energy Transfer LP (NYSE:ET – Free Report) by 11.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,840 shares of the pipeline company’s stock after buying an additional 3,472 shares during the period. Atomi Financial Group Inc.’s holdings in Energy Transfer were worth $527,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. LRI Investments LLC bought a new position in Energy Transfer in the 1st quarter worth $29,000. HWG Holdings LP bought a new stake in shares of Energy Transfer in the second quarter valued at approximately $33,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Energy Transfer in the fourth quarter worth $34,000. Adirondack Trust Co. bought a new position in Energy Transfer during the fourth quarter worth $42,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Energy Transfer during the second quarter valued at approximately $42,000. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Trading Up 0.6 %

ET opened at $16.37 on Friday. The firm has a 50-day moving average price of $16.03 and a two-hundred day moving average price of $15.91. Energy Transfer LP has a 1-year low of $12.90 and a 1-year high of $16.50. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $55.17 billion, a PE ratio of 15.06, a PEG ratio of 0.50 and a beta of 1.66.

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

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were paid a $0.32 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.82%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 117.43%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ET. UBS Group upped their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Finally, Mizuho boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $20.00.

View Our Latest Research Report on Energy Transfer

Insider Transactions at Energy Transfer

In related news, EVP Gregory G. Mcilwain bought 20,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Gregory G. Mcilwain bought 20,000 shares of the stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the executive vice president now owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following 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 position. The disclosure for this purchase can be found here. Insiders have purchased 3,040,000 shares of company stock worth $47,667,200 in the last three months. Insiders own 3.28% of the company’s stock.

Energy Transfer 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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