Energy Transfer LP (NYSE:ET) Stock Position Decreased by Wealth Alliance

Wealth Alliance lessened its holdings in shares of Energy Transfer LP (NYSE:ET) by 25.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,153 shares of the pipeline company’s stock after selling 11,239 shares during the period. Wealth Alliance’s holdings in Energy Transfer were worth $538,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Tortoise Capital Advisors L.L.C. grew its position in shares of Energy Transfer by 12.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after buying an additional 4,141,715 shares during the last quarter. First Reserve GP XIII Ltd bought a new stake in shares of Energy Transfer during the 4th quarter valued at about $322,097,000. Natixis grew its position in Energy Transfer by 20.0% in the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after purchasing an additional 2,999,300 shares during the last quarter. Westwood Holdings Group Inc. grew its position in Energy Transfer by 6.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 16,785,510 shares of the pipeline company’s stock worth $231,640,000 after purchasing an additional 1,085,240 shares during the last quarter. Finally, Chickasaw Capital Management LLC grew its position in Energy Transfer by 2.9% in the 2nd quarter. Chickasaw Capital Management LLC now owns 14,883,956 shares of the pipeline company’s stock worth $241,418,000 after purchasing an additional 425,323 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

ET has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Morgan Stanley upped their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Mizuho upped their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Finally, UBS Group upped their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.14.

Insider Activity at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of the business’s stock in a transaction that occurred 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 completion of the purchase, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Kelcy L. Warren acquired 3,000,000 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the transaction, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gregory G. Mcilwain bought 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The stock was acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The disclosure for this purchase can be found here. Insiders acquired a total of 3,040,000 shares of company stock valued at $47,667,200 over the last ninety days. Insiders own 3.28% of the company’s stock.

Energy Transfer Trading Up 0.6 %

Shares of NYSE:ET opened at $16.11 on Thursday. The company has a 50 day moving average of $16.06 and a 200-day moving average of $15.81. The firm has a market cap of $54.29 billion, a P/E ratio of 14.78, a P/E/G ratio of 0.46 and a beta of 1.66. Energy Transfer LP has a twelve month low of $12.90 and a twelve month high of $16.50. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38.

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

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.95%. Energy Transfer’s dividend payout ratio is currently 117.43%.

About Energy Transfer

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.