Energy Transfer LP $ET Shares Sold by Victory Capital Management Inc.

Key Points

• Victory Capital Management cut its stake in Energy Transfer by 79.8% in Q3, selling 3,537,476 shares and leaving 898,008 shares valued at $15.41 million.
• Energy Transfer reported Q results with an EPS miss ($0.25 vs. $0.34 expected) but revenue rose 29.6% YoY to $25.32 billion; analysts have a consensus rating of Moderate Buy and an average target of $21.40.
• The company raised its quarterly dividend to $0.335 (annualized $1.34), producing a roughly 7.3% yield, though the payout ratio is high at 110.74%.

Victory Capital Management Inc. decreased its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 79.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 898,008 shares of the pipeline company's stock after selling 3,537,476 shares during the quarter. Victory Capital Management Inc.'s holdings in Energy Transfer were worth $15,410,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Quantum Private Wealth LLC raised its position in shares of Energy Transfer by 0.5% during the 2nd quarter. Quantum Private Wealth LLC now owns 116,515 shares of the pipeline company's stock worth $2,112,000 after purchasing an additional 627 shares during the period. HBK Sorce Advisory LLC boosted its position in Energy Transfer by 3.4% during the 3rd quarter. HBK Sorce Advisory LLC now owns 19,018 shares of the pipeline company's stock valued at $321,000 after purchasing an additional 628 shares during the period. Magnus Financial Group LLC grew its stake in Energy Transfer by 2.0% during the 3rd quarter. Magnus Financial Group LLC now owns 31,430 shares of the pipeline company's stock worth $539,000 after buying an additional 629 shares during the last quarter. Perigon Wealth Management LLC grew its stake in Energy Transfer by 1.7% during the 3rd quarter. Perigon Wealth Management LLC now owns 39,585 shares of the pipeline company's stock worth $679,000 after buying an additional 644 shares during the last quarter. Finally, Veracity Capital LLC increased its position in Energy Transfer by 1.9% in the third quarter. Veracity Capital LLC now owns 36,791 shares of the pipeline company's stock worth $631,000 after buying an additional 689 shares during the period. Institutional investors own 38.22% of the company's stock.

Analysts Set New Price Targets

ET has been the topic of a number of recent research reports. Scotiabank reiterated an "outperform" rating on shares of Energy Transfer in a research note on Friday, January 16th. Royal Bank Of Canada raised shares of Energy Transfer to a "moderate buy" rating in a report on Monday, December 15th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Energy Transfer in a research report on Wednesday, December 24th. Barclays reissued an "overweight" rating and set a $22.00 price target (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. Finally, Jefferies Financial Group restated a "hold" rating on shares of Energy Transfer in a research note on Wednesday, February 18th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $21.40.

Energy Transfer Price Performance

Shares of NYSE ET opened at $18.31 on Wednesday. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $19.30. The company has a current ratio of 1.22, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $62.97 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 0.98 and a beta of 0.63. The firm has a 50-day moving average of $18.00 and a two-hundred day moving average of $17.27.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.09). Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The business had revenue of $25.32 billion during the quarter, compared to analyst estimates of $23.56 billion. During the same period in the prior year, the firm earned $0.29 EPS. The business's revenue for the quarter was up 29.6% on a year-over-year basis. As a group, analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were issued a $0.335 dividend. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.34 annualized dividend and a dividend yield of 7.3%. The ex-dividend date of this dividend was Friday, February 6th. Energy Transfer's dividend payout ratio is currently 110.74%.

Energy Transfer Company Profile

Energy Transfer NYSE: ET is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company's operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.

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