Energy Transfer LP $ET Shares Acquired by Steward Partners Investment Advisory LLC

Key Points

• Steward Partners Investment Advisory LLC increased its stake in Energy Transfer LP by 6.2%, now owning 397,626 shares valued at $7.39 million, following a trend of significant buying by other large investors.
• Energy Transfer recently declared a quarterly dividend of $0.33 per share, maintaining a strong dividend yield of 7.6%, despite a payout ratio exceeding 100%.
• Equities analysts have mixed views on Energy Transfer, with the stock receiving a consensus rating of “Moderate Buy” and an average target price of $22.75, reflecting a decreasing trend in earnings and revenue compared to the previous year.

Steward Partners Investment Advisory LLC grew its position in Energy Transfer LP (NYSE:ET - Free Report) by 6.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 397,626 shares of the pipeline company's stock after purchasing an additional 23,252 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Energy Transfer were worth $7,392,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Tyler Stone Wealth Management raised its stake in Energy Transfer by 7.1% in the first quarter. Tyler Stone Wealth Management now owns 36,737 shares of the pipeline company's stock valued at $683,000 after buying an additional 2,421 shares in the last quarter. Seaview Investment Managers LLC purchased a new position in shares of Energy Transfer in the 1st quarter valued at about $238,000. Boston Partners acquired a new stake in shares of Energy Transfer during the 1st quarter worth about $6,654,000. MSH Capital Advisors LLC raised its position in shares of Energy Transfer by 15.7% during the 1st quarter. MSH Capital Advisors LLC now owns 48,537 shares of the pipeline company's stock worth $902,000 after acquiring an additional 6,589 shares in the last quarter. Finally, Finer Wealth Management Inc. lifted its stake in Energy Transfer by 1.8% during the first quarter. Finer Wealth Management Inc. now owns 175,770 shares of the pipeline company's stock worth $3,268,000 after purchasing an additional 3,133 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Insider Buying and Selling at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the transaction, the director owned 24,523 shares of the company's stock, valued at approximately $453,185.04. The trade was a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.28% of the company's stock.

Energy Transfer Stock Performance

NYSE:ET traded down $0.0180 during trading hours on Wednesday, reaching $17.3320. 13,989,613 shares of the company's stock were exchanged, compared to its average volume of 15,563,448. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $59.50 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 0.90 and a beta of 0.83. The company has a 50-day moving average of $17.73 and a 200 day moving average of $17.96.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts' consensus estimates of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The business had revenue of $19.24 billion during the quarter, compared to analysts' expectations of $24.07 billion. During the same period in the prior year, the company earned $0.35 earnings per share. The business's revenue was down 7.2% compared to the same quarter last year. Research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed 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. This represents a $1.32 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is 102.33%.

Analysts Set New Price Targets

Several brokerages have commented on ET. Mizuho increased their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. cut their price target on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Cowen started coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating for the company. TD Cowen started coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating and a $22.00 price objective on the stock. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Twelve 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 a consensus rating of "Moderate Buy" and a consensus price target of $22.75.

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.