Edmond DE Rothschild Holding S.A. Sells 27,003 Shares of Energy Transfer LP $ET

Key Points

• Edmond DE Rothschild Holding S.A. significantly reduced its stake in Energy Transfer LP by 88.5%, owning only 3,496 shares after selling 27,003 shares in the first quarter.
• Energy Transfer recently increased its quarterly dividend to $0.33 per share, resulting in an annualized yield of 7.6%, despite a dividend payout ratio exceeding 100%.
• The consensus price target for Energy Transfer from analysts is $22.54, with most ratings being a "Moderate Buy" from various financial institutions.

Edmond DE Rothschild Holding S.A. lowered its stake in Energy Transfer LP (NYSE:ET - Free Report) by 88.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,496 shares of the pipeline company's stock after selling 27,003 shares during the quarter. Edmond DE Rothschild Holding S.A.'s holdings in Energy Transfer were worth $65,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. United Advisor Group LLC lifted its stake in Energy Transfer by 3.0% in the 4th quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company's stock valued at $363,000 after purchasing an additional 534 shares during the last quarter. Beam Wealth Advisors Inc. increased its holdings in shares of Energy Transfer by 1.5% during the first quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company's stock worth $742,000 after buying an additional 585 shares in the last quarter. Morton Capital Management LLC CA lifted its stake in shares of Energy Transfer by 1.3% in the 1st quarter. Morton Capital Management LLC CA now owns 46,382 shares of the pipeline company's stock valued at $862,000 after acquiring an additional 593 shares during the last quarter. Summit Trail Advisors LLC boosted its holdings in shares of Energy Transfer by 1.1% during the 1st quarter. Summit Trail Advisors LLC now owns 58,181 shares of the pipeline company's stock valued at $1,082,000 after acquiring an additional 649 shares in the last quarter. Finally, FAS Wealth Partners Inc. grew its position in Energy Transfer by 2.0% during the 1st quarter. FAS Wealth Partners Inc. now owns 33,733 shares of the pipeline company's stock worth $627,000 after acquiring an additional 666 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Trading Up 1.4%

NYSE ET traded up $0.25 during mid-day trading on Wednesday, reaching $17.42. 10,156,737 shares of the stock were exchanged, compared to its average volume of 10,986,669. The stock has a market cap of $59.78 billion, a P/E ratio of 13.50, a P/E/G ratio of 0.98 and a beta of 0.85. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The stock has a 50 day simple moving average of $17.57 and a 200-day simple moving average of $17.69.

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

Energy Transfer Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date was Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is currently 102.33%.

Analyst Upgrades and Downgrades

ET has been the subject of several research reports. Cowen initiated coverage on Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating for the company. TD Cowen began coverage on Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 price objective for the company. JPMorgan Chase & Co. cut their target price on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Scotiabank initiated coverage on shares of Energy Transfer in a report on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 target price on the stock. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Thirteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.54.

Insider Activity at Energy Transfer

In related news, Director James Richard Perry sold 1,369 shares of the stock in a transaction 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 transaction, the director directly owned 24,523 shares of the company's stock, valued at $453,185.04. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelcy L. Warren purchased 1,350,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was bought at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the purchase, the director owned 69,178,477 shares of the company's stock, valued at approximately $1,200,938,360.72. This represents a 1.99% increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.28% of the company's stock.

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.