NewEdge Advisors LLC Sells 25,932 Shares of Energy Transfer LP $ET

Key Points

• NewEdge Advisors LLC reduced its holdings in Energy Transfer LP by 4.4%, selling 25,932 shares and leaving them with 559,157 shares valued at approximately $10.4 million.
• Director Kelcy L. Warren significantly increased his stake by purchasing 1,350,000 shares for $23.4 million, now holding nearly 69.2 million shares valued at $1.2 billion.
• Energy Transfer has a current dividend yield of 7.6% following a quarterly dividend of $0.33, with a payout ratio of 102.33%, indicating a stable commitment to returning value to shareholders.

NewEdge Advisors LLC cut its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 4.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 559,157 shares of the pipeline company's stock after selling 25,932 shares during the quarter. NewEdge Advisors LLC's holdings in Energy Transfer were worth $10,395,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Integrated Wealth Concepts LLC boosted its position in Energy Transfer by 2.6% in the first quarter. Integrated Wealth Concepts LLC now owns 143,889 shares of the pipeline company's stock valued at $2,675,000 after buying an additional 3,711 shares in the last quarter. Greenline Partners LLC bought a new position in shares of Energy Transfer in the first quarter valued at approximately $203,000. AQR Capital Management LLC boosted its holdings in shares of Energy Transfer by 62.8% in the 1st quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company's stock worth $391,000 after acquiring an additional 8,118 shares in the last quarter. Advisors Asset Management Inc. grew its position in Energy Transfer by 10.8% during the 1st quarter. Advisors Asset Management Inc. now owns 365,332 shares of the pipeline company's stock worth $6,792,000 after acquiring an additional 35,473 shares during the last quarter. Finally, Appaloosa LP increased its holdings in Energy Transfer by 0.9% during the 1st quarter. Appaloosa LP now owns 4,957,235 shares of the pipeline company's stock valued at $92,155,000 after purchasing an additional 42,500 shares in the last quarter. Institutional investors own 38.22% of the company's stock.

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 dated Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, for a total transaction 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. This trade represents a 1.99% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Richard Perry sold 1,369 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the sale, the director directly owned 24,523 shares of the company's stock, valued at approximately $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 owned by corporate insiders.

Energy Transfer Trading Up 0.1%

NYSE:ET traded up $0.02 during mid-day trading on Tuesday, hitting $17.17. The company had a trading volume of 10,904,889 shares, compared to its average volume of 15,217,786. 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 fifty-two week low of $14.60 and a fifty-two week high of $21.45. The firm has a market cap of $58.94 billion, a P/E ratio of 13.31, a P/E/G ratio of 0.99 and a beta of 0.85. The business's fifty day moving average is $17.60 and its two-hundred day moving average is $17.69.

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

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were issued a $0.33 dividend. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.32 annualized dividend and a dividend yield of 7.7%. Energy Transfer's dividend payout ratio (DPR) is presently 102.33%.

Wall Street Analysts Forecast Growth

ET has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price objective on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 26th. Wells Fargo & Company restated an "overweight" rating and issued a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Scotiabank assumed coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 target price on the stock. Mizuho boosted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. decreased their price objective on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. 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 currently has an average rating of "Moderate Buy" and an average target price of $22.54.

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.