Eagle Global Advisors LLC Has $110.96 Million Stock Position in Energy Transfer LP $ET

Key Points

• Eagle Global Advisors increased its Q3 stake in Energy Transfer by 6.0% to 6,466,059 shares worth $110.96 million, making ET 4.3% of the firm's portfolio and its second-largest holding.
• Director Kelcy L. Warren bought 1,000,000 shares at about $16.95 on Nov. 19, raising his ownership to 104,577,803 shares; insiders now hold 3.28% of the company.
• Energy Transfer pays a quarterly dividend of $0.3325 (annualized $1.33) for a 7.6% yield but with a payout ratio of 106.4%, while analysts have a consensus "Moderate Buy" rating and a $21.50 target price.

Eagle Global Advisors LLC raised its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 6.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,466,059 shares of the pipeline company's stock after buying an additional 363,623 shares during the period. Energy Transfer makes up 4.3% of Eagle Global Advisors LLC's portfolio, making the stock its 2nd biggest position. Eagle Global Advisors LLC owned about 0.19% of Energy Transfer worth $110,958,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Energy Transfer by 9.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,353,476 shares of the pipeline company's stock valued at $387,139,000 after acquiring an additional 1,825,391 shares during the period. Chickasaw Capital Management LLC boosted its stake in Energy Transfer by 3.2% during the 2nd quarter. Chickasaw Capital Management LLC now owns 16,158,771 shares of the pipeline company's stock valued at $292,959,000 after purchasing an additional 502,240 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of Energy Transfer during the 2nd quarter valued at $168,917,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of Energy Transfer by 14.3% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 8,211,600 shares of the pipeline company's stock worth $140,911,000 after buying an additional 1,029,000 shares in the last quarter. Finally, Miller Howard Investments Inc. NY lifted its holdings in shares of Energy Transfer by 2.6% in the third quarter. Miller Howard Investments Inc. NY now owns 5,351,145 shares of the pipeline company's stock valued at $91,826,000 after buying an additional 136,507 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ET. Jefferies Financial Group set a $17.00 target price on Energy Transfer and gave the stock a "hold" rating in a report on Tuesday, October 28th. Royal Bank Of Canada upgraded shares of Energy Transfer to a "moderate buy" rating in a research report on Monday, December 15th. Morgan Stanley dropped their target price on shares of Energy Transfer from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Tuesday, December 2nd. Scotiabank cut their target price on shares of Energy Transfer from $23.00 to $21.00 and set a "sector outperform" rating for the company in a research note on Thursday, November 13th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Energy Transfer in a report on Wednesday, December 24th. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $21.50.

Energy Transfer Price Performance

ET stock opened at $17.43 on Thursday. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The firm has a 50-day moving average of $16.61 and a two-hundred day moving average of $17.08. The firm has a market capitalization of $59.85 billion, a PE ratio of 13.95, a P/E/G ratio of 0.91 and a beta of 0.66. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET - Get Free Report) last released its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.06). The firm had revenue of $19.95 billion during the quarter, compared to analysts' expectations of $21.84 billion. Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The business's revenue was down 3.9% on a year-over-year basis. During the same period last year, the business earned $0.32 earnings per share. On average, analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were paid a dividend of $0.3325 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.33 annualized dividend and a yield of 7.6%. Energy Transfer's dividend payout ratio (DPR) is presently 106.40%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,000,000 shares of Energy Transfer stock in a transaction dated Wednesday, November 19th. The stock was bought at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the acquisition, the director directly owned 104,577,803 shares of the company's stock, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.28% of the stock is currently owned by company insiders.

About Energy Transfer

Energy Transfer NYSE: ET is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company's operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.

Want to see what other hedge funds are holding ET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer LP (NYSE:ET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.