Schulhoff & Co. Inc. Grows Stock Holdings in Energy Transfer LP (NYSE:ET)

Schulhoff & Co. Inc. boosted its holdings in Energy Transfer LP (NYSE:ET) by 9.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 19,522 shares of the pipeline company’s stock after buying an additional 1,720 shares during the period. Schulhoff & Co. Inc.’s holdings in Energy Transfer were worth $317,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ET. LRI Investments LLC bought a new stake in Energy Transfer during the 1st quarter valued at approximately $29,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Energy Transfer during the fourth quarter worth $33,000. Ables Iannone Moore & Associates Inc. purchased a new position in Energy Transfer during the fourth quarter valued at $34,000. Adirondack Trust Co. bought a new stake in Energy Transfer in the 4th quarter valued at $42,000. Finally, EdgeRock Capital LLC purchased a new stake in Energy Transfer in the 2nd quarter worth $42,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Trading Up 1.1 %

Shares of ET stock opened at $16.17 on Friday. The company has a market cap of $55.34 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 0.46 and a beta of 1.66. Energy Transfer LP has a 1 year low of $12.90 and a 1 year high of $16.50. The stock’s 50 day simple moving average is $16.06 and its two-hundred day simple moving average is $15.78. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. During the same quarter in the previous year, the company posted $0.25 EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. Research analysts predict that Energy Transfer LP will post 1.4 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared 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 annualized dividend and a yield of 7.92%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. Energy Transfer’s dividend payout ratio is presently 117.43%.

Insider Buying and Selling

In other Energy Transfer news, Director Kelcy L. Warren bought 3,000,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. 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 executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the stock in a transaction on 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 completion of the transaction, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. The disclosure for this purchase can be found here. Insiders have bought 3,040,000 shares of company stock valued at $47,667,200 in the last ninety days. 3.28% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Morgan Stanley raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Mizuho lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. increased 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. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.29.

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.