Energy Transfer LP (NYSE:ET) Stock Holdings Lowered by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC trimmed its holdings in shares of Energy Transfer LP (NYSE:ET) by 14.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,313 shares of the pipeline company’s stock after selling 7,249 shares during the period. Alpha Cubed Investments LLC’s holdings in Energy Transfer were worth $663,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ET. Tortoise Capital Advisors L.L.C. raised its holdings in 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 worth $594,769,000 after buying an additional 4,141,715 shares during the period. First Reserve GP XIII Ltd purchased a new position in shares of Energy Transfer in the fourth quarter worth approximately $322,097,000. Natixis raised its holdings in shares of Energy Transfer by 20.0% during the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after acquiring an additional 2,999,300 shares during the period. Westwood Holdings Group Inc. lifted its position in shares of Energy Transfer by 1.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock valued at $261,263,000 after acquiring an additional 171,720 shares in the last quarter. Finally, Chickasaw Capital Management LLC boosted its stake 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 period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Buying and Selling

In related news, CEO Thomas E. Long purchased 20,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The stock was bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Thomas E. Long purchased 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 3,040,000 shares of company stock worth $47,667,200. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $16.16 on Wednesday. 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 LP has a one year low of $12.90 and a one year high of $16.50. The business’s 50-day moving average price is $16.03 and its two-hundred day moving average price is $15.90. The company has a market capitalization of $54.46 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 EPS. Analysts anticipate that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 7.92%. 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. Energy Transfer’s payout ratio is presently 117.43%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. UBS Group boosted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Mizuho increased 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. lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the company 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.com, the company has a consensus rating of “Buy” and a consensus target price of $20.00.

Energy Transfer 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.