50,692 Shares in Energy Transfer LP $ET Bought by Mirador Capital Partners LP

Key Points

• Mirador Capital Partners LP acquired a new stake in Energy Transfer LP, buying 50,692 shares valued at approximately $919,000 during the second quarter.
• Energy Transfer recently declared a quarterly dividend of $0.33, resulting in an annualized dividend of $1.32 and a yield of 7.5%.
• Research analysts have largely rated Energy Transfer positively, with a consensus rating of "Moderate Buy" and an average target price of $22.54.

Mirador Capital Partners LP purchased a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 50,692 shares of the pipeline company's stock, valued at approximately $919,000.

Other hedge funds also recently modified their holdings of the company. Capital A Wealth Management LLC acquired a new stake in shares of Energy Transfer during the fourth quarter worth about $26,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Energy Transfer during the fourth quarter worth about $29,000. Vision Financial Markets LLC acquired a new stake in shares of Energy Transfer during the first quarter worth about $33,000. Stone House Investment Management LLC acquired a new stake in shares of Energy Transfer during the first quarter worth about $38,000. Finally, HWG Holdings LP acquired a new stake in shares of Energy Transfer during the first quarter worth about $38,000. Institutional investors and hedge funds own 38.22% of the company's stock.

Energy Transfer Stock Performance

NYSE:ET traded down $0.12 during mid-day trading on Friday, hitting $17.32. 13,743,076 shares of the stock were exchanged, compared to its average volume of 9,812,187. The stock has a market capitalization of $59.45 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth 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. The firm's 50-day simple moving average is $17.54 and its 200 day simple moving average is $17.61. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week 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 earnings per share for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $19.24 billion during the quarter, compared to analysts' expectations of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The company's quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.35 EPS. As a group, equities analysts anticipate 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. Shareholders of record on Friday, August 8th were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.32 annualized dividend and a yield of 7.6%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is presently 102.33%.

Insiders Place Their Bets

In related news, Director Kelcy L. Warren acquired 1,350,000 shares of the company's stock in a transaction 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 acquisition, the director directly 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 available through this hyperlink. 3.28% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. TD Cowen started coverage on Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating and a $22.00 target price on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and set a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Cowen started coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating for the company. Morgan Stanley decreased their price target on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Tuesday, August 26th. Finally, Scotiabank started coverage on shares of Energy Transfer in a research note on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 price target for the company. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Energy Transfer presently has an average rating of "Moderate Buy" and an average 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.