Dynamic Advisor Solutions LLC Increases Holdings in Energy Transfer LP $ET

Key Points

• Dynamic Advisor Solutions LLC increased its stake in Energy Transfer LP by 14.3% during Q2, bringing its total holdings to 144,850 shares worth approximately $2.63 million.
• Energy Transfer LP's quarterly earnings met analyst expectations with an EPS of $0.32, but the revenue of $19.24 billion fell short of the projected $24.07 billion, showing a 7.2% year-over-year decline.
• The company announced a quarterly dividend of $0.33 per share, translating to an annualized yield of 7.6%, despite a payout ratio of over 102%.

Dynamic Advisor Solutions LLC increased its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 14.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,850 shares of the pipeline company's stock after purchasing an additional 18,107 shares during the period. Dynamic Advisor Solutions LLC's holdings in Energy Transfer were worth $2,626,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Strong Tower Advisory Services purchased a new position in shares of Energy Transfer in the first quarter worth $2,604,000. Prevail Innovative Wealth Advisors LLC lifted its stake in Energy Transfer by 316.9% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company's stock worth $2,181,000 after purchasing an additional 89,173 shares in the last quarter. Northern Trust Corp lifted its position in shares of Energy Transfer by 223.5% in the first quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company's stock worth $19,883,000 after buying an additional 738,885 shares in the last quarter. Appaloosa LP lifted its position in shares of Energy Transfer by 0.9% in the first quarter. Appaloosa LP now owns 4,957,235 shares of the pipeline company's stock worth $92,155,000 after buying an additional 42,500 shares in the last quarter. Finally, Commerce Bank purchased a new stake in shares of Energy Transfer in the first quarter worth about $92,607,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Trading Down 0.5%

Energy Transfer stock opened at $17.44 on Friday. The company has a market capitalization of $59.87 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 1.00 and a beta of 0.85. The stock has a 50-day moving average price of $17.54 and a 200 day moving average price of $17.62. Energy Transfer LP has a 52 week low of $14.60 and a 52 week 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 issued its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $19.24 billion during the quarter, compared to analysts' expectations of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The company's revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 EPS. Sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

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

Analyst Upgrades and Downgrades

ET has been the topic of a number of research analyst reports. Cowen initiated coverage on Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating on the stock. Morgan Stanley decreased their price objective on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. TD Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating and a $22.00 price target on the stock. Wells Fargo & Company restated an "overweight" rating and set a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Finally, Scotiabank started coverage on shares of Energy Transfer in a report on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 price target on the stock. Thirteen 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, Energy Transfer has an average rating of "Moderate Buy" and an average price target of $22.50.

Insiders Place Their Bets

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 bought at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the acquisition, the director owned 69,178,477 shares of the company's stock, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.