LRI Investments LLC Has $199,000 Holdings in Energy Transfer LP (NYSE:ET)

LRI Investments LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 567.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,290 shares of the pipeline company’s stock after purchasing an additional 10,450 shares during the quarter. LRI Investments LLC’s holdings in Energy Transfer were worth $199,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC increased its stake in shares of Energy Transfer by 12.1% during the 4th quarter. International Assets Investment Management LLC now owns 272,243 shares of the pipeline company’s stock worth $3,757,000 after purchasing an additional 29,483 shares during the last quarter. Signaturefd LLC increased its position in Energy Transfer by 6.4% during the fourth quarter. Signaturefd LLC now owns 25,155 shares of the pipeline company’s stock worth $347,000 after buying an additional 1,508 shares during the last quarter. RWA Wealth Partners LLC bought a new stake in Energy Transfer in the fourth quarter valued at approximately $260,000. Larson Financial Group LLC lifted its position in shares of Energy Transfer by 24.5% in the fourth quarter. Larson Financial Group LLC now owns 16,893 shares of the pipeline company’s stock valued at $233,000 after buying an additional 3,324 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in shares of Energy Transfer by 12.0% during the 4th quarter. Atria Wealth Solutions Inc. now owns 525,578 shares of the pipeline company’s stock worth $7,253,000 after acquiring an additional 56,173 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group boosted their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Stifel Nicolaus raised their price objective on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. upped their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Mizuho upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Finally, Morgan Stanley raised their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Stock Performance

NYSE:ET opened at $16.15 on Friday. The stock’s 50-day moving average is $16.06 and its 200-day moving average is $15.62. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a 1-year low of $12.90 and a 1-year high of $16.50. The stock has a market cap of $54.43 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 0.42 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. Energy Transfer’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. Equities research analysts anticipate that Energy Transfer LP will post 1.49 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were issued a $0.32 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a yield of 7.93%. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s payout ratio is presently 117.43%.

Insider Buying and Selling

In other news, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the acquisition, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Thomas E. Long bought 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. The disclosure for this purchase can be found here. 3.28% of the stock is owned by insiders.

Energy Transfer Company Profile

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.