Aptus Capital Advisors LLC Sells 115,876 Shares of Energy Transfer LP $ET

Key Points

• Aptus Capital Advisors LLC decreased its stake in Energy Transfer LP by 9.1% during the first quarter, now holding 1,160,251 shares valued at approximately $21.57 million.
• Energy Transfer declared a quarterly dividend of $0.33, representing a yield of 7.7%, though the payout ratio is high at 102.33%.
• Analysts have given Energy Transfer a consensus rating of "Moderate Buy", with price targets ranging from $22.00 to $23.00.

Aptus Capital Advisors LLC trimmed its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 9.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,160,251 shares of the pipeline company's stock after selling 115,876 shares during the quarter. Aptus Capital Advisors LLC's holdings in Energy Transfer were worth $21,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity

In related news, Director James Richard Perry sold 1,369 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $18.48, for a total transaction of $25,299.12. Following the completion of the transaction, the director directly owned 24,523 shares of the company's stock, valued at approximately $453,185.04. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.28% of the company's stock.

Energy Transfer Price Performance

Shares of NYSE ET traded down $0.0180 during mid-day trading on Wednesday, reaching $17.3320. The company's stock had a trading volume of 13,990,496 shares, compared to its average volume of 15,563,473. The stock has a fifty day moving average of $17.73 and a two-hundred day moving average of $17.96. The firm has a market capitalization of $59.50 billion, a PE ratio of 13.44, a P/E/G ratio of 0.90 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 current ratio of 1.15 and a quick ratio of 0.92.

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 for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business had revenue of $19.24 billion during the quarter, compared to the consensus estimate of $24.07 billion. During the same period in the prior year, the company posted $0.35 EPS. The firm's revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were given a dividend of $0.33 per share. The ex-dividend date was Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.6%. Energy Transfer's dividend payout ratio (DPR) is 102.33%.

Analyst Ratings Changes

A number of analysts have commented on ET shares. JPMorgan Chase & Co. reduced their target price on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Wells Fargo & Company reissued an "overweight" rating and set a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating on the stock. TD Cowen began coverage on Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating and a $22.00 target price on the stock. Finally, Mizuho upped their price target on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Energy Transfer currently has a consensus rating of "Moderate Buy" and an average target price of $22.75.

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.