Oxbow Advisors LLC Raises Position in Energy Transfer LP (NYSE:ET)

Oxbow Advisors LLC boosted its position in Energy Transfer LP (NYSE:ET) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 486,010 shares of the pipeline company’s stock after purchasing an additional 16,137 shares during the period. Energy Transfer comprises approximately 0.9% of Oxbow Advisors LLC’s portfolio, making the stock its 27th biggest holding. Oxbow Advisors LLC’s holdings in Energy Transfer were worth $7,883,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Northwest Financial Advisors bought a new position in Energy Transfer during the fourth quarter worth about $25,000. LRI Investments LLC purchased a new position in Energy Transfer in the 1st quarter valued at approximately $29,000. Atlantic Edge Private Wealth Management LLC bought a new stake in Energy Transfer during the 4th quarter valued at $33,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Energy Transfer during the fourth quarter worth $34,000. Finally, EdgeRock Capital LLC bought a new position in shares of Energy Transfer in the second quarter worth $42,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Price Performance

Shares of NYSE ET traded down $0.13 during midday trading on Friday, hitting $15.89. 11,985,947 shares of the company’s stock were exchanged, compared to its average volume of 13,479,544. The business’s fifty day moving average price is $16.10 and its two-hundred day moving average price is $15.73. The company has a market cap of $53.55 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 0.47 and a beta of 1.66. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. Energy Transfer LP has a 12-month low of $12.90 and a 12-month high of $16.50.

Energy Transfer (NYSE:ET) last released its quarterly earnings results 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 analysts’ expectations of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. Energy Transfer’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. As a group, research analysts forecast that Energy Transfer LP will post 1.4 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 8.06%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s dividend payout ratio (DPR) is currently 117.43%.

Insider Buying and Selling

In other Energy Transfer news, EVP Gregory G. Mcilwain acquired 20,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The shares were purchased at an average cost 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. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The disclosure for this purchase can be found here. Insiders bought 3,040,000 shares of company stock worth $47,667,200 in the last quarter. 3.28% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

About Energy Transfer

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.