Commonwealth Equity Services LLC Grows Stock Holdings in Energy Transfer LP (NYSE:ET)

Key Points

• Commonwealth Equity Services LLC increased its stake in Energy Transfer LP by 3.5% during the first quarter, acquiring an additional 57,442 shares, bringing its total holdings to approximately $31.4 million.
• Energy Transfer reported a quarterly dividend of $0.33, representing an annual yield of 7.4%, with its dividend payout ratio currently at 99.24%.
• Energy Transfer's stock has been assigned a consensus rating of "Moderate Buy" with a target price averaging $22.58 from multiple analysts, indicating optimism about its performance.

Commonwealth Equity Services LLC boosted its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,690,838 shares of the pipeline company's stock after buying an additional 57,442 shares during the quarter. Commonwealth Equity Services LLC's holdings in Energy Transfer were worth $31,433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blair William & Co. IL grew its holdings in Energy Transfer by 11.0% in the first quarter. Blair William & Co. IL now owns 571,952 shares of the pipeline company's stock valued at $10,633,000 after purchasing an additional 56,660 shares during the period. SCP Investment LP lifted its position in shares of Energy Transfer by 153.0% during the 1st quarter. SCP Investment LP now owns 67,800 shares of the pipeline company's stock valued at $1,260,000 after buying an additional 41,000 shares in the last quarter. DCF Advisers LLC purchased a new position in shares of Energy Transfer during the 1st quarter valued at approximately $5,586,000. Pathway Financial Advisers LLC grew its stake in Energy Transfer by 8.8% in the 1st quarter. Pathway Financial Advisers LLC now owns 97,119 shares of the pipeline company's stock valued at $1,805,000 after acquiring an additional 7,836 shares during the period. Finally, Banco Santander S.A. purchased a new stake in Energy Transfer in the 1st quarter worth $1,040,000. Hedge funds and other institutional investors own 38.22% of the company's stock.

Energy Transfer Stock Up 0.8%

Shares of Energy Transfer stock traded up $0.14 during trading hours on Wednesday, reaching $17.87. 28,386,989 shares of the company were exchanged, compared to its average volume of 12,858,506. The firm has a market cap of $61.32 billion, a PE ratio of 13.54, a PEG ratio of 0.92 and a beta of 0.83. The stock's fifty day moving average is $17.79 and its 200 day moving average is $18.18. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.92 and a current ratio of 1.12.

Energy Transfer (NYSE:ET - Get Free Report) last released its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts' consensus estimates of $0.32. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. Energy Transfer's revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 EPS. As a group, equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date is Friday, August 8th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is currently 99.24%.

Wall Street Analyst Weigh In

ET has been the subject of several research reports. TD Cowen started coverage on Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating and a $22.00 price target for the company. Mizuho increased 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. Wells Fargo & Company lowered their price target on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. dropped their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Finally, Cowen assumed coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating for the company. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.58.

Insider Activity at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the completion of the sale, the director owned 24,523 shares in the company, valued at approximately $453,185.04. The trade was a 5.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.28% of the company's stock.

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.