Kingsman Wealth Management Inc. Sells 50,372 Shares of Energy Transfer LP $ET

Key Points

• Kingsman Wealth Management Inc. reduced its position in Energy Transfer LP by 47.8%, selling 50,372 shares during the 2nd quarter, leaving them with 54,985 shares worth approximately $997,000.
• Energy Transfer has a market capitalization of $59.71 billion and reported a quarterly earnings of $0.32 per share, matching analyst expectations, but with revenue down 7.2% year-over-year.
• The company recently declared a quarterly dividend of $0.33 per share, with a yield of 7.6%, despite a high dividend payout ratio of 102.33%.

Kingsman Wealth Management Inc. decreased its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 47.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,985 shares of the pipeline company's stock after selling 50,372 shares during the quarter. Energy Transfer comprises approximately 0.6% of Kingsman Wealth Management Inc.'s holdings, making the stock its 24th largest position. Kingsman Wealth Management Inc.'s holdings in Energy Transfer were worth $997,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Alps Advisors Inc. lifted its holdings in shares of Energy Transfer by 12.9% during the 1st quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock worth $1,400,831,000 after acquiring an additional 8,613,645 shares during the period. Tortoise Capital Advisors L.L.C. raised its position in Energy Transfer by 2.6% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 38,205,495 shares of the pipeline company's stock worth $710,240,000 after purchasing an additional 951,656 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its position in shares of Energy Transfer by 0.8% during the first quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company's stock worth $449,329,000 after acquiring an additional 182,705 shares during the last quarter. Energy Income Partners LLC raised its holdings in Energy Transfer by 12.0% during the 1st quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company's stock worth $429,802,000 after purchasing an additional 2,471,401 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its stake in shares of Energy Transfer by 2.8% during the first quarter. Westwood Holdings Group Inc. now owns 16,787,080 shares of the pipeline company's stock worth $312,072,000 after buying an additional 455,860 shares during the last quarter. Institutional investors own 38.22% of the company's stock.

Energy Transfer Price Performance

ET stock opened at $17.40 on Friday. The company has a market capitalization of $59.71 billion, a P/E ratio of 13.48, a PEG ratio of 1.03 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. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The company has a fifty day moving average price of $17.52 and a 200-day moving average price of $17.60.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The firm 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 quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. As a group, equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 7.6%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, August 8th. Energy Transfer's dividend payout ratio is currently 102.33%.

Analyst Ratings Changes

ET has been the subject of several recent analyst reports. TD Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 target price for the company. Morgan Stanley decreased their price objective on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Tuesday, August 26th. Scotiabank assumed coverage on shares of Energy Transfer in a research note on Tuesday, September 2nd. They issued a "sector outperform" rating and a $23.00 target price for the company. Cowen assumed coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating for the company. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Energy Transfer currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.50.

Insider Activity

In other news, Director Kelcy L. Warren acquired 1,350,000 shares of Energy Transfer stock in a transaction on Wednesday, August 20th. The stock was acquired at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the transaction, the director owned 69,178,477 shares of the company's stock, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.28% of the stock is currently owned by insiders.

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.

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