Ashford Capital Management Inc. Has $4.29 Million Stock Position in Energy Transfer LP $ET

Key Points

• Ashford Capital Management Inc. has decreased its stake in Energy Transfer LP by 7%, holding 230,803 shares valued at approximately $4.29 million.
• Director Kelcy L. Warren purchased 1.35 million shares of Energy Transfer stock for $23.4 million, increasing his position by 1.99%.
• Energy Transfer recently announced a quarterly dividend of $0.33, maintaining a dividend yield of 7.4%, although its payout ratio stands at 102.33%.

Ashford Capital Management Inc. trimmed its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 7.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,803 shares of the pipeline company's stock after selling 17,400 shares during the period. Ashford Capital Management Inc.'s holdings in Energy Transfer were worth $4,291,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new stake in Energy Transfer during the 4th quarter valued at $26,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Energy Transfer in the 4th quarter valued at $29,000. Vision Financial Markets LLC acquired a new stake in shares of Energy Transfer in the 1st quarter valued at $33,000. HWG Holdings LP acquired a new stake in shares of Energy Transfer in the 1st quarter valued at $38,000. Finally, Stone House Investment Management LLC acquired a new stake in shares of Energy Transfer in the 1st quarter valued at $38,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Energy Transfer news, Director Kelcy L. Warren purchased 1,350,000 shares of Energy Transfer stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the acquisition, the director owned 69,178,477 shares of the company's stock, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James Richard Perry sold 1,369 shares of Energy Transfer 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 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 disclosure for this sale can be found here. 3.28% of the stock is owned by company insiders.

Energy Transfer Price Performance

ET opened at $17.73 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The company has a fifty day simple moving average of $17.64 and a 200 day simple moving average of $17.82. The stock has a market cap of $60.84 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.93 and a beta of 0.83.

Energy Transfer (NYSE:ET - Get Free Report) last released 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 business had revenue of $19.24 billion during the quarter, compared to analysts' expectations of $24.07 billion. During the same quarter in the prior year, the company earned $0.35 EPS. The firm's quarterly revenue was down 7.2% on a year-over-year basis. On average, research analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 7.4%. The ex-dividend date was Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio is 102.33%.

Analysts Set New Price Targets

ET has been the subject of several research reports. Wells Fargo & Company reissued an "overweight" rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Mizuho lifted their target price on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. Cowen initiated coverage on Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating for the company. Morgan Stanley lowered their target price on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, TD Cowen began coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating and a $22.00 target price for the company. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.

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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