Tectonic Advisors LLC Has $11.07 Million Stock Position in Energy Transfer LP $ET

Key Points

• Tectonic Advisors LLC has increased its stake in Energy Transfer LP by 10.9%, now holding over $11 million worth of shares, according to a recent SEC filing.
• Energy Transfer's quarterly earnings met expectations, reporting $0.32 EPS despite a revenue decline of 7.2% year-over-year.
• The company has announced a recent dividend of $0.33 per share, yielding 7.9%, with a payout ratio currently at 102.33%.

Tectonic Advisors LLC grew its position in Energy Transfer LP (NYSE:ET - Free Report) by 10.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 610,502 shares of the pipeline company's stock after buying an additional 59,791 shares during the period. Tectonic Advisors LLC's holdings in Energy Transfer were worth $11,068,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Indiana Trust & Investment Management Co lifted its holdings in shares of Energy Transfer by 5.1% in the first 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. lifted its holdings in shares of Energy Transfer by 1.5% in the first 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 lifted its holdings in shares of 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 valued at $862,000 after purchasing an additional 593 shares in the last quarter. MCF Advisors LLC lifted its holdings in shares of Energy Transfer by 7.2% in the second quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company's stock valued at $167,000 after purchasing an additional 616 shares in the last quarter. Finally, Chicago Capital LLC lifted its holdings in shares of Energy Transfer by 2.6% in the second quarter. Chicago Capital LLC now owns 24,056 shares of the pipeline company's stock valued at $436,000 after purchasing an additional 618 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

ET opened at $16.70 on Thursday. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The firm has a market capitalization of $57.33 billion, a PE ratio of 12.95, a PEG ratio of 0.98 and a beta of 0.78. 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 business's 50-day simple moving average is $17.39 and its 200 day simple moving average is $17.50.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business's revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 earnings per share. As a group, sell-side analysts expect 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. Shareholders of record on Friday, August 8th were paid a $0.33 dividend. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a yield of 7.9%. The ex-dividend date was Friday, August 8th. Energy Transfer's dividend payout ratio is currently 102.33%.

Analysts Set New Price Targets

A number of analysts have recently commented on ET shares. Scotiabank started coverage on Energy Transfer in a report on Tuesday, September 2nd. They issued a "sector outperform" rating and a $23.00 price target on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Energy Transfer in a report on Wednesday. TD Cowen started coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 price target on the stock. Cowen started coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating on the stock. Finally, Wells Fargo & Company restated 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. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren acquired 1,350,000 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were purchased at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the purchase, the director directly owned 69,178,477 shares of the company's stock, valued at approximately $1,200,938,360.72. This represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.28% of the stock is owned by corporate insiders.

Energy Transfer 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.