Eagle Global Advisors LLC Raises Holdings in Energy Transfer LP (NYSE:ET)

Key Points

• Eagle Global Advisors LLC increased its stake in Energy Transfer LP by 7.5%, bringing its total shares to 6,224,721, making it the second largest position in their portfolio.
• Analysts have set a consensus rating of "Moderate Buy" for Energy Transfer, with price targets ranging from $21.00 to $23.00 according to various institutional reports.
• Energy Transfer recently announced a quarterly dividend increase to $0.33 per share, resulting in a 7.6% dividend yield, although its payout ratio is high at 102.33%.

Eagle Global Advisors LLC raised its stake in Energy Transfer LP (NYSE:ET - Free Report) by 7.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,224,721 shares of the pipeline company's stock after buying an additional 431,714 shares during the quarter. Energy Transfer comprises approximately 4.8% of Eagle Global Advisors LLC's investment portfolio, making the stock its 2nd biggest holding. Eagle Global Advisors LLC owned 0.18% of Energy Transfer worth $115,718,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Capital A Wealth Management LLC bought a new stake in shares of Energy Transfer in the fourth quarter worth $26,000. Fourth Dimension Wealth LLC acquired a new position in Energy Transfer during the fourth quarter worth $29,000. Vision Financial Markets LLC acquired a new position in Energy Transfer during the first quarter worth $33,000. HWG Holdings LP acquired a new position in Energy Transfer during the first quarter worth $38,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Energy Transfer during the first quarter worth $40,000. Institutional investors own 38.22% of the company's stock.

Insiders Place Their Bets

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the 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 of the company's stock, valued at approximately $453,185.04. This represents a 5.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.28% of the company's stock.

Energy Transfer Price Performance

ET traded up $0.09 on Wednesday, hitting $17.48. 11,993,133 shares of the stock were exchanged, compared to its average volume of 15,651,073. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The business has a 50-day moving average of $17.77 and a two-hundred day moving average of $18.07. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. The firm has a market capitalization of $60.00 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.89 and a beta of 0.83.

Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 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 during the quarter, compared to analysts' expectations of $24.07 billion. During the same quarter in the prior year, the business earned $0.35 earnings per share. The business's revenue for the quarter was down 7.2% compared to the same quarter last year. Sell-side analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is 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 payout ratio is currently 102.33%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Cowen assumed coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a "buy" rating on the stock. Mizuho upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Wells Fargo & Company reiterated an "overweight" rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a report on Tuesday. TD Cowen initiated coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $22.75.

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.