Energy Transfer LP (NYSE:ET) Shares Sold by RR Advisors LLC

Key Points

• RR Advisors LLC has reduced its stake in Energy Transfer LP by 3.7%, owning 2,805,000 shares after selling 107,000 shares during the first quarter, making ET approximately 12.5% of its portfolio.
• Energy Transfer recently increased its quarterly dividend to $0.33, reflecting a 7.6% yield, despite a high dividend payout ratio of 102.33%.
• The company reported earnings of $0.32 per share for the last quarter, matching analysts' estimates, amid a decline in revenue compared to the previous year.

RR Advisors LLC reduced its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 3.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,805,000 shares of the pipeline company's stock after selling 107,000 shares during the quarter. Energy Transfer makes up about 12.5% of RR Advisors LLC's holdings, making the stock its biggest holding. RR Advisors LLC owned about 0.08% of Energy Transfer worth $52,137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ET. Capital A Wealth Management LLC purchased a new stake in Energy Transfer during the 4th quarter valued at about $26,000. Fourth Dimension Wealth LLC bought a new position in Energy Transfer during the 4th quarter valued at about $29,000. Vision Financial Markets LLC bought a new position in shares of Energy Transfer in the 1st quarter worth approximately $33,000. HWG Holdings LP bought a new position in shares of Energy Transfer in the 1st quarter worth approximately $38,000. Finally, Stone House Investment Management LLC bought a new position in shares of Energy Transfer in the 1st quarter worth approximately $38,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ET has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 19th. TD Cowen started coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 target price for the company. Mizuho raised their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Cowen started coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating for the company. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.75.

Energy Transfer Stock Down 0.7%

Shares of NYSE ET traded down $0.13 during trading hours on Friday, hitting $17.25. 9,974,797 shares of the stock were exchanged, compared to its average volume of 14,747,483. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The company has a market cap of $59.21 billion, a PE ratio of 13.37, a PEG ratio of 0.90 and a beta of 0.83. 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 firm has a fifty day moving average price of $17.75 and a 200-day moving average price of $18.01.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%. The business's quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, sell-side analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 7.7%. The ex-dividend date is Friday, August 8th. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is 102.33%.

Insider Activity

In other news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the completion of the transaction, the director owned 24,523 shares in the company, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.28% of the company's stock.

About Energy Transfer

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.