Energy Transfer LP $ET Stock Holdings Boosted by Energy Income Partners LLC

Key Points

• Energy Income Partners increased its Energy Transfer stake by 1.8% in the second quarter, bringing its holdings to 25.65 million shares valued at roughly $490.5 million. Institutional investors own 38.22% of the company.
• Energy Transfer reported quarterly EPS of $0.59, beating the $0.38 consensus estimate, while revenue rose 78.4% year over year to $34.33 billion.
• Analysts maintain a bullish outlook, with a consensus “Moderate Buy” rating and an average price target of $24.08. The company also declared a $0.34 quarterly dividend, equivalent to a 6.4% annualized yield.

Energy Income Partners LLC increased its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,654,536 shares of the pipeline company's stock after purchasing an additional 447,081 shares during the quarter. Energy Transfer makes up about 7.7% of Energy Income Partners LLC's holdings, making the stock its 2nd biggest position. Energy Income Partners LLC owned approximately 0.75% of Energy Transfer worth $490,515,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ET. Arrow Investment Advisors LLC increased its position in shares of Energy Transfer by 4.9% during the second quarter. Arrow Investment Advisors LLC now owns 10,866 shares of the pipeline company's stock valued at $208,000 after acquiring an additional 505 shares during the last quarter. Argent Trust Co boosted its position in Energy Transfer by 2.1% in the second quarter. Argent Trust Co now owns 26,035 shares of the pipeline company's stock worth $498,000 after purchasing an additional 529 shares during the last quarter. State of Wyoming grew its stake in Energy Transfer by 2.5% in the 2nd quarter. State of Wyoming now owns 22,822 shares of the pipeline company's stock valued at $436,000 after purchasing an additional 548 shares during the period. Keybank National Association OH increased its position in shares of Energy Transfer by 0.3% during the 1st quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company's stock valued at $4,231,000 after purchasing an additional 556 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc. increased its position in shares of Energy Transfer by 4.9% during the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company's stock valued at $216,000 after purchasing an additional 560 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Insider Activity at Energy Transfer

In other Energy Transfer news, Director James Richard Perry bought 12,359 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the transaction, the director directly owned 208,046 shares in the company, valued at $4,208,770.58. This trade represents a 6.32% increase in their ownership of the stock. The purchase 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.

Wall Street Analysts Forecast Growth

ET has been the subject of several research reports. Wall Street Zen upgraded shares of Energy Transfer from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Truist Financial lifted their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. TD Cowen reiterated a "buy" rating and issued a $25.00 target price (up from $24.00) on shares of Energy Transfer in a research note on Monday, August 10th. Citigroup reissued a "buy" rating and set a $24.00 target price (up from $23.00) on shares of Energy Transfer in a research report on Friday, August 7th. Finally, Barclays reaffirmed an "overweight" rating and issued a $24.00 price target (up from $23.00) on shares of Energy Transfer in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Energy Transfer presently has a consensus rating of "Moderate Buy" and an average price target of $24.08.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $21.41 on Wednesday. The stock's 50-day moving average is $19.84 and its 200 day moving average is $19.37. The stock has a market cap of $73.74 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 0.75 and a beta of 0.55. Energy Transfer LP has a 1-year low of $16.18 and a 1-year high of $21.43. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.21. The business had revenue of $34.33 billion during the quarter, compared to analyst estimates of $27.71 billion. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.Energy Transfer's revenue for the quarter was up 78.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 earnings per share. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.63 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.36 annualized dividend and a dividend yield of 6.4%. This is an increase from Energy Transfer's previous quarterly dividend of $0.34. Energy Transfer's payout ratio is 92.52%.

Energy Transfer 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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