Southeast Asset Advisors LLC Takes $510,000 Position in Energy Transfer LP $ET

Key Points

• Southeast Asset Advisors LLC purchased 27,420 shares of Energy Transfer LP, valued at approximately $510,000, during the first quarter.
• Energy Transfer reported a revenue decline of 7.2% year-over-year for the quarter, totaling $19.24 billion, while meeting earnings expectations with $0.32 EPS.
• The company recently increased its quarterly dividend to $0.33 per share, yielding 7.5%, despite a high dividend payout ratio of 102.33%.

Southeast Asset Advisors LLC acquired a new stake in shares of Energy Transfer LP (NYSE:ET - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,420 shares of the pipeline company's stock, valued at approximately $510,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new stake in shares of Energy Transfer during the 4th quarter worth $26,000. Fourth Dimension Wealth LLC bought a new position in shares of Energy Transfer in the fourth quarter worth about $29,000. Vision Financial Markets LLC acquired a new stake in shares of Energy Transfer in the 1st quarter valued at approximately $33,000. Stone House Investment Management LLC bought a new stake in shares of Energy Transfer during the 1st quarter valued at approximately $38,000. Finally, HWG Holdings LP acquired a new position in Energy Transfer during the 1st quarter worth approximately $38,000. Institutional investors own 38.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Mizuho raised their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating for the company. Wells Fargo & Company reissued an "overweight" rating and set a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. JPMorgan Chase & Co. reduced their price target on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Finally, Morgan Stanley dropped their price objective on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Tuesday. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.

Insider Transactions at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the transaction, the director directly owned 24,523 shares of the company's stock, valued at $453,185.04. The trade was a 5.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kelcy L. Warren bought 1,350,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the purchase, the director directly owned 69,178,477 shares of the company's stock, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.28% of the stock is owned by insiders.

Energy Transfer Trading Down 0.1%

Shares of ET traded down $0.03 during mid-day trading on Wednesday, reaching $17.57. 9,192,614 shares of the company were exchanged, compared to its average volume of 15,451,710. The stock has a market capitalization of $60.30 billion, a PE ratio of 13.62, a PEG ratio of 0.92 and a beta of 0.83. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. The business has a 50 day simple moving average of $17.66 and a two-hundred day simple moving average of $17.85.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts' consensus estimates of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. During the same period in the prior year, the firm posted $0.35 EPS. The company's quarterly revenue was down 7.2% on a year-over-year basis. On average, analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were given a $0.33 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.32 annualized dividend and a dividend yield of 7.5%. Energy Transfer's dividend payout ratio is 102.33%.

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.