Linscomb & Williams Inc. reduced its stake in Energy Transfer LP (NYSE:ET) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,855 shares of the pipeline company’s stock after selling 2,233 shares during the period. Linscomb & Williams Inc.’s holdings in Energy Transfer were worth $652,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of ET. Waterfront Wealth Inc. raised its stake in Energy Transfer by 2.4% during the 1st quarter. Waterfront Wealth Inc. now owns 54,872 shares of the pipeline company’s stock worth $431,000 after buying an additional 1,295 shares during the period. WASHINGTON TRUST Co raised its stake in Energy Transfer by 13.5% during the 1st quarter. WASHINGTON TRUST Co now owns 12,599 shares of the pipeline company’s stock worth $97,000 after buying an additional 1,500 shares during the period. Gill Capital Partners LLC raised its stake in Energy Transfer by 2.3% during the 1st quarter. Gill Capital Partners LLC now owns 70,000 shares of the pipeline company’s stock worth $538,000 after buying an additional 1,545 shares during the period. Sheaff Brock Investment Advisors LLC raised its stake in shares of Energy Transfer by 2.2% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 76,946 shares of the pipeline company’s stock valued at $591,000 after purchasing an additional 1,667 shares during the period. Finally, Barnett & Company Inc. raised its stake in shares of Energy Transfer by 9.4% in the 1st quarter. Barnett & Company Inc. now owns 19,863 shares of the pipeline company’s stock valued at $153,000 after purchasing an additional 1,700 shares during the period. Institutional investors and hedge funds own 37.57% of the company’s stock.
Energy Transfer stock opened at $11.05 on Friday. Energy Transfer LP has a 52 week low of $4.98 and a 52 week high of $11.11. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.01 and a quick ratio of 0.77. The company has a market capitalization of $29.87 billion, a PE ratio of 8.91 and a beta of 2.51. The stock’s 50-day simple moving average is $9.22.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 19th. Investors of record on Tuesday, May 11th were issued a dividend of $0.153 per share. The ex-dividend date of this dividend was Monday, May 10th. This represents a $0.61 dividend on an annualized basis and a yield of 5.54%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.15. Energy Transfer’s dividend payout ratio (DPR) is presently -338.89%.
In other news, Director Ray W. Washburne acquired 200,000 shares of Energy Transfer stock in a transaction dated Tuesday, May 11th. The stock was bought at an average price of $9.53 per share, for a total transaction of $1,906,000.00. Following the completion of the acquisition, the director now directly owns 123,930 shares in the company, valued at approximately $1,181,052.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Bradford D. Whitehurst acquired 5,000 shares of Energy Transfer stock in a transaction dated Wednesday, May 19th. The shares were purchased at an average price of $10.14 per share, with a total value of $50,700.00. The disclosure for this purchase can be found here. Company insiders own 3.28% of the company’s stock.
Several analysts have issued reports on the company. Zacks Investment Research raised Energy Transfer from a “hold” rating to a “strong-buy” rating and set a $12.00 price target on the stock in a research note on Monday. Evercore ISI raised Energy Transfer from an “in-line” rating to an “outperform” rating in a research note on Wednesday, April 28th. Raymond James lifted their price target on Energy Transfer from $9.00 to $10.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 15th. Mizuho began coverage on Energy Transfer in a research note on Tuesday, May 4th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Piper Sandler raised Energy Transfer from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $7.00 to $9.00 in a research report on Monday, February 22nd. Thirteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $11.31.
Energy Transfer Profile
Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,340 miles of interstate natural gas pipelines. It also sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
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