Cambiar Investors LLC Acquires 59,005 Shares of Energy Transfer LP $ET

Key Points

• Cambiar Investors LLC increased its stake in Energy Transfer LP by 18.6%, bringing its total holdings to approximately $7 million after acquiring 59,005 additional shares in the first quarter.
• Energy Transfer declared a quarterly dividend of $0.33 per share, which translates to a 7.7% annual yield, though its current payout ratio stands at 102.33%.
• Despite a revenue decline of 7.2% year-over-year, Energy Transfer reported earnings per share of $0.32 for the last quarter, matching analysts' expectations.

Cambiar Investors LLC boosted its position in Energy Transfer LP (NYSE:ET - Free Report) by 18.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 376,604 shares of the pipeline company's stock after purchasing an additional 59,005 shares during the period. Cambiar Investors LLC's holdings in Energy Transfer were worth $7,001,000 as of its most recent SEC filing.

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

Insider Activity

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

Wall Street Analysts Forecast Growth

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

Energy Transfer Stock Up 0.2%

NYSE:ET traded up $0.0350 during trading hours on Wednesday, reaching $17.3850. The company had a trading volume of 10,969,806 shares, compared to its average volume of 15,540,001. The firm has a market cap of $59.68 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 0.90 and a beta of 0.83. The business's 50-day simple moving average is $17.73 and its two-hundred day simple moving average is $17.96. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. 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 (NYSE:ET - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts' consensus estimates of $0.32. The company 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 was down 7.2% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. On average, equities analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were paid a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.32 dividend on an annualized basis and a yield of 7.6%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio is presently 102.33%.

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.