Energy Transfer LP $ET Shares Bought by Rollins Financial Advisors LLC

Key Points

• Rollins Financial Advisors LLC increased its stake in Energy Transfer LP by 18.1%, acquiring an additional 29,133 shares, which brought the total value of their holdings to approximately $3.53 million.
• Analysts have mixed opinions on Energy Transfer's stock; while Mizuho raised the target price to $23.00 with an "outperform" rating, JPMorgan Chase reduced its price objective to the same level, reflecting differing outlooks.
• Energy Transfer recently announced a quarterly dividend of $0.33 per share, maintaining a high yield of 7.6%, despite a dividend payout ratio of 102.33%.

Rollins Financial Advisors LLC raised its position in Energy Transfer LP (NYSE:ET - Free Report) by 18.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 189,842 shares of the pipeline company's stock after acquiring an additional 29,133 shares during the period. Rollins Financial Advisors LLC's holdings in Energy Transfer were worth $3,529,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Alps Advisors Inc. lifted its stake in shares of Energy Transfer by 12.9% in the 1st quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock worth $1,400,831,000 after acquiring an additional 8,613,645 shares during the period. Tortoise Capital Advisors L.L.C. lifted its stake in shares of Energy Transfer by 2.6% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 38,205,495 shares of the pipeline company's stock worth $710,240,000 after acquiring an additional 951,656 shares during the period. Kayne Anderson Capital Advisors LP lifted its stake in shares of Energy Transfer by 0.8% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company's stock worth $449,329,000 after acquiring an additional 182,705 shares during the period. Energy Income Partners LLC lifted its stake in shares of Energy Transfer by 12.0% in the 1st quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company's stock worth $429,802,000 after acquiring an additional 2,471,401 shares during the period. Finally, Westwood Holdings Group Inc. lifted its stake in shares of Energy Transfer by 2.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,787,080 shares of the pipeline company's stock worth $312,072,000 after acquiring an additional 455,860 shares during the period. Institutional investors and hedge funds own 38.22% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on ET. Mizuho raised their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. reduced their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Wells Fargo & Company reiterated an "overweight" rating and issued a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Cowen began coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating for the company. Finally, Morgan Stanley reduced their price objective on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Tuesday, August 26th. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Energy Transfer presently has an average rating of "Moderate Buy" and a consensus price target of $22.54.

Insider Transactions 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 on Wednesday, August 20th. The stock was bought at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $18.48, for a total transaction of $25,299.12. Following the sale, the director owned 24,523 shares of the company's stock, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.28% of the company's stock.

Energy Transfer Stock Performance

Shares of ET opened at $17.42 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The stock has a market cap of $59.78 billion, a P/E ratio of 13.50, a PEG ratio of 0.98 and a beta of 0.85. The company has a 50-day moving average of $17.57 and a two-hundred day moving average of $17.69. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45.

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. The company had revenue of $19.24 billion during the quarter, compared to analysts' expectations of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm's quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 earnings per share. As a group, research analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were given a dividend of $0.33 per share. The ex-dividend date was Friday, August 8th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a yield of 7.6%. Energy Transfer's dividend payout ratio (DPR) is presently 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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