Tema Etfs LLC Makes New Investment in Energy Transfer LP $ET

Tema Etfs LLC purchased a new stake in Energy Transfer LP (NYSE:ET - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 116,114 shares of the pipeline company's stock, valued at approximately $2,105,000.

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Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ryan Investment Management Inc. purchased a new position in Energy Transfer in the second quarter worth $31,000. CNB Bank grew its stake in shares of Energy Transfer by 111.1% during the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company's stock worth $34,000 after purchasing an additional 1,000 shares during the period. Stone House Investment Management LLC acquired a new position in shares of Energy Transfer during the 1st quarter worth $38,000. HHM Wealth Advisors LLC increased its holdings in shares of Energy Transfer by 54.4% in the 2nd quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company's stock valued at $41,000 after purchasing an additional 800 shares in the last quarter. Finally, Crowley Wealth Management Inc. acquired a new stake in shares of Energy Transfer in the second quarter valued at about $44,000. Institutional investors and hedge funds own 38.22% of the company's stock.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren purchased 1,000,000 shares of the stock in a transaction dated Wednesday, November 19th. The stock was acquired at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the acquisition, the director directly owned 104,577,803 shares in the company, valued at $1,772,593,760.85. This represents a 0.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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A number of research firms recently commented on ET. Barclays reissued an "overweight" rating and set a $25.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. Morgan Stanley reduced their price target on shares of Energy Transfer from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Tuesday. Jefferies Financial Group set a $17.00 price target on Energy Transfer and gave the stock a "hold" rating in a report on Tuesday, October 28th. UBS Group reaffirmed a "buy" rating and issued a $22.00 price objective on shares of Energy Transfer in a research note on Wednesday, October 15th. Finally, Scotiabank decreased their target price on Energy Transfer from $23.00 to $21.00 and set a "sector outperform" rating on the stock in a research report on Thursday, November 13th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $21.62.

View Our Latest Analysis on Energy Transfer

Energy Transfer Stock Performance

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Energy Transfer stock opened at $16.78 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.14 and a current ratio of 1.41. The stock has a fifty day moving average of $16.75 and a two-hundred day moving average of $17.35. The company has a market capitalization of $57.61 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.01 and a beta of 0.65. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.06). The company had revenue of $19.95 billion during the quarter, compared to analysts' expectations of $21.84 billion. Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The firm's revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. On average, analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were paid a dividend of $0.3325 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.33 annualized dividend and a dividend yield of 7.9%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio is 106.40%.

Energy Transfer 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.

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