Mirador Capital Partners LP Takes Position in Energy Transfer LP $ET

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 bought a new stake in shares of Energy Transfer LP (NYSE:ET - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 50,692 shares of the pipeline company's stock, valued at approximately $919,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. United Advisor Group LLC boosted its position in shares of Energy Transfer by 3.0% during the 4th quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company's stock valued at $363,000 after purchasing an additional 534 shares in the last quarter. Indiana Trust & Investment Management Co boosted its position in shares of Energy Transfer by 5.1% during the 1st quarter. Indiana Trust & Investment Management Co now owns 11,796 shares of the pipeline company's stock valued at $219,000 after purchasing an additional 576 shares in the last quarter. Beam Wealth Advisors Inc. boosted its position in shares of Energy Transfer by 1.5% during the 1st quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company's stock valued at $742,000 after purchasing an additional 585 shares in the last quarter. Morton Capital Management LLC CA boosted its holdings in Energy Transfer by 1.3% in the first quarter. Morton Capital Management LLC CA now owns 46,382 shares of the pipeline company's stock worth $862,000 after acquiring an additional 593 shares in the last quarter. Finally, Veracity Capital LLC boosted its holdings in Energy Transfer by 1.8% in the second quarter. Veracity Capital LLC now owns 36,102 shares of the pipeline company's stock worth $655,000 after acquiring an additional 646 shares in the last quarter. Institutional investors own 38.22% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ET shares. Cowen started coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating on the stock. Morgan Stanley cut their price target on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. Wells Fargo & Company restated an "overweight" rating and issued a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Scotiabank assumed coverage on Energy Transfer in a report on Tuesday, September 2nd. They issued a "sector outperform" rating and a $23.00 target price on the stock. Finally, TD Cowen assumed 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. 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 MarketBeat, Energy Transfer has a consensus rating of "Moderate Buy" and an average target price of $22.54.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren purchased 1,350,000 shares of Energy Transfer stock in a transaction dated Wednesday, August 20th. The stock was bought 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 $1,200,938,360.72. This trade represents 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 this link. Company insiders own 3.28% of the company's stock.

Energy Transfer Stock Performance

NYSE:ET opened at $17.57 on Wednesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. The business has a fifty day simple moving average of $17.55 and a two-hundred day simple moving average of $17.63. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The company has a market capitalization of $60.31 billion, a P/E ratio of 13.62, a P/E/G ratio of 1.00 and a beta of 0.85.

Energy Transfer (NYSE:ET - Get Free Report) last released its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business had revenue of $19.24 billion during the quarter, compared to the consensus estimate of $24.07 billion. During the same period last year, the business posted $0.35 earnings per share. The business's revenue for the quarter was down 7.2% on a year-over-year basis. On average, analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 7.5%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, August 8th. Energy Transfer's dividend payout ratio (DPR) is presently 102.33%.

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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