Energy Transfer LP (NYSE:ET) Shares Sold by Saxon Interests Inc.

Saxon Interests Inc. lowered its stake in shares of Energy Transfer LP (NYSE:ET) by 7.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,931 shares of the pipeline company’s stock after selling 2,191 shares during the period. Saxon Interests Inc.’s holdings in Energy Transfer were worth $416,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ET. LRI Investments LLC acquired a new position in shares of Energy Transfer in the 1st quarter valued at $29,000. HWG Holdings LP acquired a new position in shares of Energy Transfer in the 2nd quarter valued at $33,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Energy Transfer in the 4th quarter valued at $34,000. Sugarloaf Wealth Management LLC lifted its stake in shares of Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares during the last quarter. Finally, Adirondack Trust Co. acquired a new position in shares of Energy Transfer in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.2 %

NYSE ET traded up $0.03 during trading hours on Wednesday, hitting $16.20. 1,129,043 shares of the company were exchanged, compared to its average volume of 13,108,069. The company has a 50 day moving average of $16.03 and a two-hundred day moving average of $15.90. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. Energy Transfer LP has a 52-week low of $12.90 and a 52-week high of $16.50. The firm has a market cap of $54.59 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business had revenue of $20.73 billion during 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 company’s revenue was up 13.1% compared to the same quarter last year. Equities research analysts anticipate that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Mizuho upped their price target on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. UBS Group increased their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $20.00.

Insider Activity

In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s 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 transaction, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gregory G. Mcilwain purchased 20,000 shares of Energy Transfer stock in a transaction dated 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 acquisition, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 3,040,000 shares of company stock worth $47,667,200. 3.28% of the stock is currently owned by insiders.

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.