Brighton Jones LLC Sells 8,021 Shares of Energy Transfer LP (NYSE:ET)

Brighton Jones LLC lessened its stake in Energy Transfer LP (NYSE:ET) by 40.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,592 shares of the pipeline company’s stock after selling 8,021 shares during the period. Brighton Jones LLC’s holdings in Energy Transfer were worth $188,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Aveo Capital Partners LLC increased its stake in Energy Transfer by 1.3% in the fourth quarter. Aveo Capital Partners LLC now owns 133,559 shares of the pipeline company’s stock valued at $1,843,000 after acquiring an additional 1,663 shares during the period. 9258 Wealth Management LLC bought a new position in shares of Energy Transfer during the 4th quarter worth approximately $645,000. US Bancorp DE boosted its stake in Energy Transfer by 95.8% in the 4th quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock valued at $2,013,000 after buying an additional 71,386 shares in the last quarter. Advisory Services Network LLC lifted its holdings in shares of Energy Transfer by 17.3% during the fourth quarter. Advisory Services Network LLC now owns 266,518 shares of the pipeline company’s stock valued at $3,678,000 after acquiring an additional 39,284 shares during the period. Finally, Cape Investment Advisory Inc. boosted its stake in shares of Energy Transfer by 354.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 6,356 shares of the pipeline company’s stock valued at $88,000 after purchasing an additional 4,956 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Energy Transfer Stock Up 0.2 %

NYSE ET opened at $16.20 on Monday. The stock has a market capitalization of $54.59 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 0.46 and a beta of 1.66. Energy Transfer LP has a 52 week low of $12.90 and a 52 week high of $16.50. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The stock has a fifty day moving average of $16.06 and a 200-day moving average of $15.83.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data 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). The firm had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 earnings per share. On average, equities research analysts forecast that Energy Transfer LP will post 1.4 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 7.90%. The ex-dividend date was Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 117.43%.

Insiders Place Their Bets

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 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 Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the acquisition, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 3,040,000 shares of company stock valued at $47,667,200. Company insiders own 3.28% of the company’s stock.

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.