Energy Transfer LP $ET Shares Sold by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC reduced its holdings in Energy Transfer LP by 11.6% during Q2, owning 238,623 shares valued at approximately $4.3 million after selling 31,263 shares.
• Energy Transfer's most recent earnings report revealed an EPS of $0.32, meeting analysts' expectations, but with revenue down 7.2% year-over-year at $19.24 billion.
• The company announced a quarterly dividend of $0.33 per share, maintaining a yield of 8.0%, despite a payout ratio of over 102%.

International Assets Investment Management LLC reduced its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 11.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 238,623 shares of the pipeline company's stock after selling 31,263 shares during the period. International Assets Investment Management LLC's holdings in Energy Transfer were worth $4,326,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. 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. boosted its stake in shares of Energy Transfer by 12.9% in the first 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 first quarter worth approximately $92,607,000. Energy Income Partners LLC boosted its stake in shares of Energy Transfer by 12.0% in the first 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 first quarter worth approximately $44,876,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Energy Transfer

In related news, Director Kelcy L. Warren purchased 1,350,000 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was bought at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.28% of the company's stock.

Energy Transfer Trading Down 1.4%

ET opened at $16.44 on Friday. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The company has a market cap of $56.43 billion, a P/E ratio of 12.74, a PEG ratio of 0.97 and a beta of 0.78. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. The business's 50-day simple moving average is $17.23 and its 200-day simple moving average is $17.38.

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, 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 firm 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 firm earned $0.35 EPS. The business's revenue was down 7.2% on a year-over-year basis. As a group, equities research analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal 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 dividend of $0.33 per share. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend was Friday, August 8th. Energy Transfer's payout ratio is presently 102.33%.

Wall Street Analyst Weigh In

ET has been the topic of a number of recent research reports. Barclays reissued an "overweight" rating and set a $25.00 price objective on shares of Energy Transfer in a research note on Wednesday. Cowen initiated coverage on Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating on the stock. UBS Group reissued a "buy" rating and set a $22.00 price objective on shares of Energy Transfer in a research note on Wednesday. Morgan Stanley lowered their price objective on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 26th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $22.67.

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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