Kercheville Advisors LLC Reduces Holdings in Energy Transfer LP $ET

Key Points

• Kercheville Advisors LLC reduced its holdings in Energy Transfer LP by 22.9%, selling 36,632 shares during the second quarter, leaving them with 123,218 shares valued at approximately $2.23 million.
• Energy Transfer recently reported $19.24 billion in revenue for the quarter, which was lower than analyst estimates, while maintaining earnings per share of $0.32.
• The company announced a quarterly dividend of $0.33 per share, representing a yield of 7.8%, despite a dividend payout ratio of 102.33%.

Kercheville Advisors LLC lowered its position in Energy Transfer LP (NYSE:ET - Free Report) by 22.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,218 shares of the pipeline company's stock after selling 36,632 shares during the quarter. Kercheville Advisors LLC's holdings in Energy Transfer were worth $2,234,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Ryan Investment Management Inc. purchased a new position in Energy Transfer in the second quarter valued at about $31,000. Vision Financial Markets LLC purchased a new position in shares of Energy Transfer during the 1st quarter valued at approximately $33,000. Stone House Investment Management LLC acquired a new stake in shares of Energy Transfer during the first quarter worth approximately $38,000. HWG Holdings LP acquired a new stake in shares of Energy Transfer during the first quarter worth approximately $38,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Energy Transfer in the first quarter worth $40,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $16.83 on Friday. 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's 50-day moving average price is $17.47 and its two-hundred day moving average price is $17.54. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The stock has a market capitalization of $57.78 billion, a P/E ratio of 13.05, a P/E/G ratio of 0.99 and a beta of 0.78.

Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $19.24 billion during 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 revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 earnings per share. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current 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 paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is presently 102.33%.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren acquired 1,350,000 shares of Energy Transfer stock in a transaction dated Wednesday, August 20th. The stock was acquired at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the transaction, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This represents a 1.99% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.28% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating on the stock. Morgan Stanley reduced their price target on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of Energy Transfer in a research note on Saturday, September 27th. Wells Fargo & Company restated an "overweight" rating and set a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Finally, Scotiabank started coverage on Energy Transfer in a report on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 target price on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.

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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