Energy Transfer LP $ET Shares Sold by Retireful LLC

Key Points

• Retireful LLC reduced its position in Energy Transfer LP by 34.2%, selling 21,862 shares to hold 42,002 shares worth $761,000 as of the latest SEC filing.
• Energy Transfer recently announced a quarterly dividend of $0.33, representing an annualized yield of 7.6%, with a payout ratio of 102.33%.
• Wall Street analysts are generally optimistic about Energy Transfer, with an average rating of "Moderate Buy" and an average price target of $22.50.

Retireful LLC trimmed its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 34.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,002 shares of the pipeline company's stock after selling 21,862 shares during the period. Retireful LLC's holdings in Energy Transfer were worth $761,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. acquired a new position in shares of Energy Transfer in the 2nd quarter worth approximately $31,000. Vision Financial Markets LLC acquired a new stake in shares of Energy Transfer during the first quarter worth $33,000. HWG Holdings LP bought a new position in shares of Energy Transfer in the 1st quarter worth about $38,000. Stone House Investment Management LLC bought a new position in shares of Energy Transfer in the 1st quarter worth about $38,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Energy Transfer during the 1st quarter valued at about $40,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $17.40 on Thursday. The company has a market capitalization of $59.71 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.01 and a beta of 0.85. 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 stock has a fifty day moving average of $17.52 and a 200-day moving average of $17.60. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $24.07 billion. During the same period in the previous year, the firm posted $0.35 EPS. The company's quarterly revenue was down 7.2% on a year-over-year basis. As a group, equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

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

Insider Buying and Selling at Energy Transfer

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ET shares. Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating on the stock. Morgan Stanley cut their price target on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. Wells Fargo & Company restated an "overweight" rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Scotiabank started coverage on Energy Transfer in a research report on Tuesday, September 2nd. They issued a "sector outperform" rating and a $23.00 target price on the stock. Finally, TD Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a "buy" rating and a $22.00 price target for the company. Thirteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $22.50.

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.

Want to see what other hedge funds are holding ET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer LP (NYSE:ET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.