Energy Transfer LP $ET Shares Sold by Huntleigh Advisors Inc.

Key Points

• Huntleigh Advisors Inc. sold 74,994 shares of Energy Transfer LP, reducing its stake by 40.1% to 111,842 shares worth approximately $2,028,000.
• Energy Transfer recently reported $0.32 earnings per share, meeting analysts' expectations, but its revenue of $19.24 billion fell short of the consensus estimate of $24.07 billion.
• The company declared a quarterly dividend of $0.33, translating to an annualized yield of 8.0%, despite a high dividend payout ratio of 102.33%.

Huntleigh Advisors Inc. cut its position in Energy Transfer LP (NYSE:ET - Free Report) by 40.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,842 shares of the pipeline company's stock after selling 74,994 shares during the period. Huntleigh Advisors Inc.'s holdings in Energy Transfer were worth $2,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in ET. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Energy Transfer in the second quarter worth approximately $168,917,000. Alps Advisors Inc. increased 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 last quarter. Commerce Bank acquired a new stake in shares of Energy Transfer in the 1st quarter worth $92,607,000. Energy Income Partners LLC increased 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 last quarter. Finally, Nuveen LLC acquired a new stake in shares of Energy Transfer in the 1st quarter worth $44,876,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Price Performance

NYSE:ET opened at $16.44 on Friday. Energy Transfer LP has a 52 week low of $14.60 and a 52 week 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 company has a market capitalization of $56.43 billion, a P/E ratio of 12.74, a P/E/G ratio of 0.98 and a beta of 0.78. The stock's fifty day moving average is $17.23 and its two-hundred day moving average is $17.39.

Energy Transfer (NYSE:ET - Get Free Report) last posted 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 return on equity of 11.08% and a net margin of 5.80%.The company had revenue of $19.24 billion for the quarter, compared to the consensus estimate of $24.07 billion. During the same quarter in the previous year, the business earned $0.35 earnings per share. The company's revenue for the quarter was down 7.2% on a year-over-year basis. 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. Investors of record on Friday, August 8th were issued a $0.33 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.32 annualized dividend and a dividend yield of 8.0%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is presently 102.33%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ET. UBS Group reaffirmed a "buy" rating and issued a $22.00 target price on shares of Energy Transfer in a research note on Wednesday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. TD Cowen began coverage on Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 target price for the company. Finally, Cowen began coverage on Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating for the company. Thirteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Energy Transfer presently has an average rating of "Moderate Buy" and a consensus target price of $22.67.

Insider Activity

In other news, Director Kelcy L. Warren acquired 1,350,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the acquisition, the director owned 69,178,477 shares of the company's stock, valued at $1,200,938,360.72. This represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.28% of the company's stock.

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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