RFG Advisory LLC Has $1.23 Million Stock Position in Energy Transfer LP $ET

Key Points

• RFG Advisory LLC increased its stake in Energy Transfer LP by 56.0%, now owning approximately $1.23 million worth of stock after purchasing an additional 24,424 shares in the second quarter.
• Several hedge funds, including Alps Advisors and Energy Income Partners, also boosted their holdings in Energy Transfer, with institutional investors collectively owning 38.22% of the company.
• Energy Transfer recently announced a quarterly dividend of $0.33 per share, yielding 7.9%, maintaining a payout ratio of 102.33%.

RFG Advisory LLC lifted its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 56.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,064 shares of the pipeline company's stock after purchasing an additional 24,424 shares during the quarter. RFG Advisory LLC's holdings in Energy Transfer were worth $1,234,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ET. Alps Advisors Inc. grew its stake in Energy Transfer by 12.9% in the 1st quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock valued at $1,400,831,000 after buying an additional 8,613,645 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew 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 buying an additional 951,656 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its stake in Energy Transfer by 0.8% in 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 buying an additional 182,705 shares during the last quarter. Energy Income Partners LLC grew its stake 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 valued at $429,802,000 after buying an additional 2,471,401 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its stake 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 valued at $312,072,000 after buying an additional 455,860 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Insider Transactions at Energy Transfer

In other news, Director Kelcy L. Warren purchased 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 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.28% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. TD Cowen assumed coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 target price on the stock. Wells Fargo & Company reissued an "overweight" rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Weiss Ratings reissued a "buy (b)" rating on shares of Energy Transfer in a report on Wednesday, October 8th. Cowen assumed coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating for the company. Finally, Barclays reissued an "overweight" rating and issued a $25.00 price target on shares of Energy Transfer in a report on Wednesday. Thirteen 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, Energy Transfer currently has a consensus rating of "Moderate Buy" and an average price target of $22.67.

Energy Transfer Price Performance

NYSE:ET opened at $16.67 on Friday. The company has a 50-day moving average of $17.25 and a 200-day moving average of $17.41. The company has a market capitalization of $57.22 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.00 and a beta of 0.78. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. 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 (NYSE:ET - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts' consensus estimates of $0.32. The company had revenue of $19.24 billion during the quarter, compared to the consensus estimate of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm's revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period last year, the firm earned $0.35 EPS. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.9%. 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 payout ratio is 102.33%.

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.

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