Mill Creek Capital Advisors LLC Has $256,000 Stock Position in Energy Transfer LP $ET

Key Points

• Mill Creek Capital Advisors LLC has reduced its holdings in Energy Transfer LP by 51.9%, now owning 13,767 shares valued at approximately $256,000.
• Energy Transfer recently announced a quarterly dividend of $0.33, maintaining a yield of 7.7%, despite a payout ratio of 102.33%.
• Analysts are optimistic about Energy Transfer, with a consensus rating of "Moderate Buy" and an average price target of $22.75.

Mill Creek Capital Advisors LLC trimmed its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 51.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,767 shares of the pipeline company's stock after selling 14,843 shares during the period. Mill Creek Capital Advisors LLC's holdings in Energy Transfer were worth $256,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. United Advisor Group LLC boosted its stake in Energy Transfer by 3.0% during the fourth quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company's stock valued at $363,000 after buying an additional 534 shares in the last quarter. Beam Wealth Advisors Inc. boosted its stake in Energy Transfer by 1.5% during the first quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company's stock valued at $742,000 after buying an additional 585 shares in the last quarter. Morton Capital Management LLC CA boosted its stake in Energy Transfer by 1.3% during the first quarter. Morton Capital Management LLC CA now owns 46,382 shares of the pipeline company's stock valued at $862,000 after buying an additional 593 shares in the last quarter. Summit Trail Advisors LLC boosted its position in shares of Energy Transfer by 1.1% in the 1st quarter. Summit Trail Advisors LLC now owns 58,181 shares of the pipeline company's stock valued at $1,082,000 after purchasing an additional 649 shares during the period. Finally, FAS Wealth Partners Inc. increased its stake in Energy Transfer by 2.0% in the 1st quarter. FAS Wealth Partners Inc. now owns 33,733 shares of the pipeline company's stock worth $627,000 after purchasing an additional 666 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Up 0.5%

Shares of Energy Transfer stock traded up $0.0950 during trading on Thursday, hitting $17.4250. 8,150,627 shares of the stock traded hands, compared to its average volume of 15,512,673. The stock has a market cap of $59.81 billion, a P/E ratio of 13.51, a PEG ratio of 0.90 and a beta of 0.83. 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 twelve month low of $14.60 and a twelve month high of $21.45. The company has a fifty day moving average price of $17.71 and a two-hundred day moving average price of $17.95.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The business 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 firm's revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 EPS. Equities research analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.6%. 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 102.33%.

Insider Buying and Selling

In related news, Director Kelcy L. Warren acquired 1,350,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the purchase, the director owned 69,178,477 shares of the company's stock, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Richard Perry sold 1,369 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $18.48, for a total value of $25,299.12. Following the completion of the transaction, the director directly owned 24,523 shares in the company, valued at $453,185.04. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ET. Mizuho raised their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. TD Cowen began 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. Wells Fargo & Company reiterated an "overweight" rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating for the company. Finally, JPMorgan Chase & Co. decreased 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. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.75.

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.