Energy Transfer LP $ET Shares Bought by Miller Howard Investments Inc. NY

Key Points

• Miller Howard Investments Inc. increased its stake in Energy Transfer LP by 3.6%, now holding 5,214,638 shares valued at approximately $94.54 million.
• Energy Transfer has received positive ratings from analysts, with a consensus rating of "Moderate Buy" and an average price target of $22.50.
• Following a recent acquisition of 1,350,000 shares by Director Kelcy L. Warren, company insiders own 3.28% of Energy Transfer's stock.

Miller Howard Investments Inc. NY grew its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 3.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,214,638 shares of the pipeline company's stock after buying an additional 181,029 shares during the period. Energy Transfer accounts for about 3.0% of Miller Howard Investments Inc. NY's holdings, making the stock its 3rd biggest holding. Miller Howard Investments Inc. NY owned 0.15% of Energy Transfer worth $94,541,000 as of its most recent SEC filing.

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

Energy Transfer Trading Up 0.2%

NYSE:ET traded up $0.04 during midday trading on Tuesday, reaching $17.17. 6,199,705 shares of the stock traded hands, compared to its average volume of 14,941,131. The company has a fifty day moving average of $17.53 and a 200 day moving average of $17.61. The stock has a market capitalization of $58.92 billion, a P/E ratio of 13.30, a PEG ratio of 1.02 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 12 month low of $14.60 and a 12 month high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company had revenue of $19.24 billion for the quarter, compared to the consensus estimate of $24.07 billion. During the same period in the prior year, the firm posted $0.35 EPS. Energy Transfer's revenue for the quarter was down 7.2% on a year-over-year basis. On average, research analysts predict 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 was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were given a $0.33 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.32 annualized dividend and a yield of 7.7%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is currently 102.33%.

Insiders Place Their Bets

In other Energy Transfer 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 stock was purchased 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 $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.28% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on ET. Morgan Stanley dropped their target price on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 26th. Scotiabank started coverage on Energy Transfer in a research note on Tuesday, September 2nd. They issued a "sector outperform" rating and a $23.00 price objective on the stock. TD Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 target price on the stock. Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating on the stock. Finally, Wells Fargo & Company restated an "overweight" rating and set a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.