Mon Sep 09 15:40:51 UTC 2024: ## Institutional Investors Show Interest in Energy Transfer LP as Insiders Buy Stock

**New York, NY (MarketBeat News)** – Energy Transfer LP (NYSE: ET), a leading pipeline company, has seen a surge in interest from institutional investors in recent months. Hudson Edge Investment Partners Inc. acquired a new position in the company during the second quarter, purchasing 2,600 shares valued at approximately $42,000.

Other notable institutional activity includes:

* **Ellis Investment Partners LLC** increased its holdings in Energy Transfer by 10.4% in the second quarter.
* **Chris Bulman Inc** bought a new position in Energy Transfer in the second quarter valued at approximately $83,000.
* **Strategic Financial Concepts LLC** dramatically raised its holdings in Energy Transfer by 1,610.2% in the second quarter.
* **Oxbow Advisors LLC** lifted its position in Energy Transfer by 3.4% during the second quarter.
* **Tortoise Capital Advisors L.L.C.** boosted its holdings in Energy Transfer by 12.7% during the second quarter.

Institutional investors now own 38.22% of Energy Transfer’s stock.

Adding to the positive sentiment, Energy Transfer’s CEO Thomas E. Long and Director Kelcy L. Warren both made significant stock purchases in August, demonstrating their confidence in the company’s future.

Despite missing analysts’ earnings estimates for the second quarter, Energy Transfer still reported a strong performance with $0.35 earnings per share and a 13.1% year-over-year increase in revenue. The company also declared a quarterly dividend of $0.32 per share, representing a positive change from the previous quarter.

Multiple brokerages have recently upgraded their ratings and target prices for Energy Transfer, reflecting a positive outlook for the company. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $19.29.

Energy Transfer continues to be a key player in the energy sector, providing essential services in natural gas transportation and storage. The recent influx of institutional interest and insider buying signals strong confidence in the company’s future prospects.

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