Eagle Global Advisors LLC Has $110.64 Million Holdings in Energy Transfer LP $ET

Key Points

• Eagle Global Advisors LLC reduced its holdings in Energy Transfer LP by 2.0%, now owning approximately 6.1 million shares valued at about $110.64 million, representing 4.5% of its investment portfolio.
• Energy Transfer recently announced a quarterly dividend of $0.33 per share, providing a dividend yield of 7.6%, which reflects an increase from its previous dividend payout.
• Analysts have set a consensus rating of "Moderate Buy" for Energy Transfer, with an average target price of $22.50, while Wells Fargo and Morgan Stanley have reiterated their "overweight" ratings.

Eagle Global Advisors LLC trimmed its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,102,436 shares of the pipeline company's stock after selling 122,285 shares during the period. Energy Transfer comprises about 4.5% of Eagle Global Advisors LLC's investment portfolio, making the stock its 2nd biggest position. Eagle Global Advisors LLC owned about 0.18% of Energy Transfer worth $110,637,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Energy Transfer by 93.4% during the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock valued at $481,000 after buying an additional 11,844 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Energy Transfer by 6.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 764,632 shares of the pipeline company's stock valued at $14,979,000 after acquiring an additional 45,809 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of Energy Transfer during the 4th quarter valued at $50,000. Walnut Private Equity Partners LLC lifted its holdings in shares of Energy Transfer by 1.3% during the 1st quarter. Walnut Private Equity Partners LLC now owns 2,011,000 shares of the pipeline company's stock valued at $37,384,000 after purchasing an additional 26,000 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its holdings in shares of Energy Transfer by 481.9% during the 1st quarter. AdvisorNet Financial Inc now owns 2,665 shares of the pipeline company's stock valued at $50,000 after purchasing an additional 2,207 shares during the last quarter. Institutional investors own 38.22% of the company's stock.

Insider Activity at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the purchase, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.28% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wells Fargo & Company reiterated an "overweight" rating and set a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Morgan Stanley lowered 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 began coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 target price on the stock. Cowen assumed coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating on the stock. Finally, Scotiabank began coverage on shares of Energy Transfer in a research note on Tuesday, September 2nd. They issued a "sector outperform" rating and a $23.00 price target for the company. Thirteen 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $22.50.

Energy Transfer Stock Up 0.3%

Shares of NYSE ET opened at $17.46 on Friday. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The firm's 50 day moving average price is $17.52 and its 200 day moving average price is $17.60. The firm has a market cap of $59.93 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 1.03 and a beta of 0.85. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. During the same quarter last year, the business earned $0.35 earnings per share. Energy Transfer's revenue 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 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders 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 dividend yield of 7.6%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is 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.

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