Walnut Private Equity Partners LLC Grows Holdings in Energy Transfer LP $ET

Key Points

• Walnut Private Equity Partners LLC increased its stake in Energy Transfer LP by 1.2%, owning approximately 2,036,000 shares, making it the firm's second-largest holding.
• Energy Transfer's quarterly dividend was recently increased to $0.33, offering a 7.6% yield, despite a high dividend payout ratio of 102.33%.
• Analysts have adjusted their price targets for Energy Transfer, with an average target now at $22.54, maintaining a consensus rating of "Moderate Buy".

Walnut Private Equity Partners LLC boosted its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,036,000 shares of the pipeline company's stock after buying an additional 25,000 shares during the quarter. Energy Transfer makes up approximately 21.6% of Walnut Private Equity Partners LLC's portfolio, making the stock its 2nd largest holding. Walnut Private Equity Partners LLC owned about 0.06% of Energy Transfer worth $36,913,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ET. Capital A Wealth Management LLC bought a new position in Energy Transfer during the fourth quarter valued at about $26,000. Fourth Dimension Wealth LLC purchased a new stake in Energy Transfer during the fourth quarter valued at about $29,000. Vision Financial Markets LLC purchased a new stake in Energy Transfer during the first quarter valued at about $33,000. HWG Holdings LP purchased a new stake in Energy Transfer during the first quarter valued at about $38,000. Finally, Stone House Investment Management LLC purchased a new stake in Energy Transfer during the first quarter valued at about $38,000. Institutional investors own 38.22% of the company's stock.

Insider Activity

In other news, Director Kelcy L. Warren purchased 1,350,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was acquired at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the purchase, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Trading Down 0.2%

Shares of Energy Transfer stock traded down $0.04 on Friday, hitting $17.45. The stock had a trading volume of 7,300,533 shares, compared to its average volume of 10,422,809. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The stock has a market cap of $59.90 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.99 and a beta of 0.85. The stock's 50-day simple moving average is $17.55 and its two-hundred day simple moving average is $17.65.

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

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were paid a dividend of $0.33 per share. The ex-dividend date was Friday, August 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.6%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio is presently 102.33%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Morgan Stanley dropped their price objective on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. JPMorgan Chase & Co. dropped 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. Mizuho increased their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating on the stock. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $22.54.

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.