Energy Transfer LP (NYSE:ET) Shares Acquired by Brookstone Capital Management

11 Oct 2024, 15:07 by Sarita Garza · The Markets Daily

Brookstone Capital Management increased its stake in Energy Transfer LP (NYSE:ET – Free Report) by 5.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 216,358 shares of the pipeline company’s stock after acquiring an additional 10,738 shares during the period. Brookstone Capital Management’s holdings in Energy Transfer were worth $3,473,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. LRI Investments LLC acquired a new position in Energy Transfer during the first quarter valued at approximately $29,000. HWG Holdings LP acquired a new position in Energy Transfer during the second quarter valued at approximately $33,000. Ables Iannone Moore & Associates Inc. acquired a new position in Energy Transfer during the fourth quarter valued at approximately $34,000. Sugarloaf Wealth Management LLC lifted its position in Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after buying an additional 750 shares in the last quarter. Finally, Adirondack Trust Co. acquired a new position in Energy Transfer during the fourth quarter valued at approximately $42,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ET has been the topic of a number of recent research reports. Mizuho lifted 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. JPMorgan Chase & Co. lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Finally, UBS Group lifted their price objective 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. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Buy” and a consensus target price of $20.00.

Read Our Latest Stock Analysis on ET

Energy Transfer Trading Up 0.6 %

ET opened at $16.37 on Friday. The firm has a market capitalization of $55.17 billion, a P/E ratio of 15.02, a P/E/G ratio of 0.50 and a beta of 1.66. The firm’s 50 day moving average is $16.03 and its 200-day moving average is $15.91. Energy Transfer LP has a 52-week low of $12.90 and a 52-week high of $16.50. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET – Get Free Report) last issued its quarterly 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). The company had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS. Analysts expect that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Increases Dividend

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

Insider Buying and Selling

In related news, EVP Gregory G. Mcilwain purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Energy Transfer 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 price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, 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 purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 3,040,000 shares of company stock worth $47,667,200. Insiders own 3.28% of the company’s stock.

Energy Transfer Profile

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