Militia Capital Partners LP Has $7.72 Million Stake in Energy Transfer LP $ET

Key Points

• Militia Capital Partners LP has increased its stake in Energy Transfer LP by 37.6%, now owning 415,000 shares, which represents 6.1% of its portfolio valued at approximately $7.7 million.
• Energy Transfer recently declared a quarterly dividend of $0.33 per share, reflecting a 7.6% dividend yield and an increase from its previous dividend amount.
• As of now, 38.22% of Energy Transfer's stock is owned by institutional investors, indicating strong interest and confidence from larger financial entities.

Militia Capital Partners LP raised its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 37.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 415,000 shares of the pipeline company's stock after purchasing an additional 113,400 shares during the period. Energy Transfer accounts for about 6.1% of Militia Capital Partners LP's portfolio, making the stock its 2nd biggest position. Militia Capital Partners LP's holdings in Energy Transfer were worth $7,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ET. Brighton Jones LLC raised its position in 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 purchasing an additional 11,844 shares during the period. Ameriprise Financial Inc. raised its position in Energy Transfer by 11.6% during the fourth quarter. Ameriprise Financial Inc. now owns 389,075 shares of the pipeline company's stock valued at $7,622,000 after purchasing an additional 40,329 shares during the period. Nuveen Asset Management LLC raised its position in Energy Transfer by 62.9% during the fourth quarter. Nuveen Asset Management LLC now owns 2,830,861 shares of the pipeline company's stock valued at $55,457,000 after purchasing an additional 1,093,585 shares during the period. NorthRock Partners LLC purchased a new stake in Energy Transfer during the fourth quarter valued at approximately $755,000. Finally, Second Line Capital LLC raised its position in Energy Transfer by 9.4% during the fourth quarter. Second Line Capital LLC now owns 25,728 shares of the pipeline company's stock valued at $504,000 after purchasing an additional 2,219 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ET. Wells Fargo & Company restated an "overweight" rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Scotiabank assumed coverage on Energy Transfer in a report on Tuesday, September 2nd. They issued a "sector outperform" rating and a $23.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Morgan Stanley reduced their price target on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. Finally, Mizuho increased their price target on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Thirteen 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 company presently has an average rating of "Moderate Buy" and a consensus price target of $22.54.

Insider Buying and Selling

In other news, Director Kelcy L. Warren acquired 1,350,000 shares of Energy Transfer stock in a transaction on Wednesday, August 20th. The shares were bought at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the acquisition, the director directly 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 purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.28% of the stock is owned by insiders.

Energy Transfer Trading Down 0.2%

ET traded down $0.04 during trading on Friday, hitting $17.45. 7,300,533 shares of the stock were exchanged, compared to its average volume of 10,422,809. The firm has a 50 day simple moving average of $17.55 and a 200 day simple moving average of $17.65. The firm has a market cap of $59.90 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 0.99 and a beta of 0.85. 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 1.44, a quick ratio of 0.92 and a current ratio of 1.15.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $19.24 billion for the quarter, compared to the consensus estimate of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.Energy Transfer's quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the business posted $0.35 EPS. As a group, equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 7.6%. The ex-dividend date was 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 102.33%.

Energy Transfer 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.