Valley National Advisers Inc. Has $127,000 Stock Position in Energy Transfer LP (NYSE:ET)

Posted by on Mar 22nd, 2023

Valley National Advisers Inc. cut its holdings in Energy Transfer LP (NYSE:ET – Get Rating) by 11.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,169 shares of the pipeline company’s stock after selling 1,262 shares during the period. Valley National Advisers Inc.’s holdings in Energy Transfer were worth $127,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC acquired a new position in Energy Transfer in the 3rd quarter valued at $220,000. Glassy Mountain Advisors Inc. bought a new position in shares of Energy Transfer in the fourth quarter worth $27,000. EdgeRock Capital LLC acquired a new position in Energy Transfer in the third quarter valued at about $29,000. MinichMacGregor Wealth Management LLC bought a new stake in Energy Transfer during the fourth quarter worth about $33,000. Finally, Ronald Blue Trust Inc. acquired a new stake in Energy Transfer during the second quarter worth about $31,000. 37.81% of the stock is owned by institutional investors.

Insider Transactions at Energy Transfer

In related news, Chairman Kelcy L. Warren bought 1,339,398 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was acquired at an average cost of $12.99 per share, with a total value of $17,398,780.02. Following the transaction, the chairman now directly owns 56,917,875 shares in the company, valued at $739,363,196.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.28% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ET shares. Wells Fargo & Company upped their price target on shares of Energy Transfer from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, February 21st. Raymond James raised their target price on Energy Transfer from $15.00 to $17.00 and gave the company a “strong-buy” rating in a report on Thursday, February 16th. Citigroup assumed coverage on Energy Transfer in a research report on Thursday, December 8th. They set a “buy” rating and a $16.00 price objective for the company. Morgan Stanley raised their price objective on Energy Transfer from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, January 9th. Finally, Barclays boosted their target price on Energy Transfer from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 18th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Buy” and an average price target of $16.43.

Energy Transfer Trading Up 2.3 %

Shares of ET stock opened at $12.11 on Wednesday. Energy Transfer LP has a twelve month low of $9.15 and a twelve month high of $13.67. The stock’s fifty day simple moving average is $12.82 and its 200 day simple moving average is $12.21. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $37.48 billion, a P/E ratio of 8.71 and a beta of 1.75.

Energy Transfer (NYSE:ET – Get Rating) last released its quarterly earnings results on Wednesday, February 15th. The pipeline company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $20.50 billion for the quarter, compared to the consensus estimate of $23.81 billion. Energy Transfer had a return on equity of 13.55% and a net margin of 5.17%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 earnings per share. As a group, sell-side analysts predict that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 21st. Stockholders of record on Tuesday, February 7th were paid a dividend of $0.305 per share. The ex-dividend date of this dividend was Monday, February 6th. This represents a $1.22 annualized dividend and a dividend yield of 10.07%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.27. Energy Transfer’s dividend payout ratio (DPR) is presently 87.77%.

Energy Transfer Profile

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Energy Transfer LP provides natural gas pipeline transportation and transmission services. It operates through the following segments: Intrastate Transportation and Storage, Interstate Transportation and Storage, Midstream, NGL and Refined Products Transportation and Services, Crude Oil Transportation and Services, Investment in Sunoco LP, Investment in USAC, and All Other.

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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