Alpha Wealth Funds LLC Lowers Stock Holdings in Energy Transfer LP $ET

Key Points

• Alpha Wealth Funds LLC reduced its stake in Energy Transfer LP by 18.3%, selling 20,000 shares, which now represents 1.4% of their overall holdings.
• Director Kelcy L. Warren purchased 1,350,000 shares of Energy Transfer, increasing his stake by 1.99%, highlighting insider confidence in the company's future.
• Energy Transfer recently increased its quarterly dividend to $0.33, yielding approximately 8.0%, despite a $19.24 billion revenue that fell short of expectations.

Alpha Wealth Funds LLC reduced its stake in Energy Transfer LP (NYSE:ET - Free Report) by 18.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,500 shares of the pipeline company's stock after selling 20,000 shares during the quarter. Energy Transfer comprises 1.4% of Alpha Wealth Funds LLC's holdings, making the stock its 9th largest position. Alpha Wealth Funds LLC's holdings in Energy Transfer were worth $1,629,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of ET. Kingstone Capital Partners Texas LLC bought a new position in Energy Transfer in the 2nd quarter valued at about $168,917,000. Alps Advisors Inc. raised its holdings in Energy Transfer by 12.9% in the 1st quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock valued at $1,400,831,000 after acquiring an additional 8,613,645 shares during the period. Commerce Bank bought a new position in Energy Transfer in the 1st quarter valued at about $92,607,000. Energy Income Partners LLC raised its holdings in Energy Transfer by 12.0% in the 1st quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company's stock valued at $429,802,000 after acquiring an additional 2,471,401 shares during the period. Finally, Nuveen LLC bought a new position in shares of Energy Transfer during the first quarter worth approximately $44,876,000. 38.22% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Kelcy L. Warren bought 1,350,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were purchased at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the transaction, the director directly owned 69,178,477 shares of the company's stock, valued at approximately $1,200,938,360.72. This represents a 1.99% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 3.28% of the stock is owned by corporate insiders.

Energy Transfer Stock Performance

NYSE ET opened at $16.44 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $56.43 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 0.97 and a beta of 0.78. The firm's 50 day simple moving average is $17.23 and its 200 day simple moving average is $17.38. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45.

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

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were given a $0.33 dividend. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date was Friday, August 8th. Energy Transfer's dividend payout ratio (DPR) is 102.33%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ET. Morgan Stanley lowered their target price on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a "buy" rating on the stock. Scotiabank began coverage on shares of Energy Transfer in a report on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 target price on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Finally, TD Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a "buy" rating and a $22.00 target price on the stock. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $22.67.

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.

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