Venture Visionary Partners LLC Trims Holdings in Energy Transfer LP $ET

Key Points

• Venture Visionary Partners LLC reduced its stake in Energy Transfer LP by 52.0%, owning 144,871 shares valued at approximately $2.69 million after selling 156,815 shares in the first quarter.
• Energy Transfer recently declared a quarterly dividend of $0.33 per share, representing a yield of 7.6% with a payout ratio of 102.33%.
• Analysts have a consensus rating of “Moderate Buy” for Energy Transfer, with a target price of $22.75, reflecting support from twelve analysts noting the stock's potential.

Venture Visionary Partners LLC trimmed its stake in Energy Transfer LP (NYSE:ET - Free Report) by 52.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 144,871 shares of the pipeline company's stock after selling 156,815 shares during the period. Venture Visionary Partners LLC's holdings in Energy Transfer were worth $2,693,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ET. Capital A Wealth Management LLC purchased a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $26,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $29,000. Vision Financial Markets LLC purchased a new stake in shares of Energy Transfer in the 1st quarter valued at approximately $33,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer in the 1st quarter valued at approximately $38,000. Finally, Stone House Investment Management LLC purchased a new stake in shares of Energy Transfer in the 1st quarter valued at approximately $38,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Trading Up 0.0%

NYSE ET opened at $17.3450 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The stock has a market capitalization of $59.54 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 0.90 and a beta of 0.83. The firm has a 50 day moving average of $17.73 and a two-hundred day moving average of $17.96.

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

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were issued a dividend of $0.33 per share. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, August 8th. This represents a $1.32 annualized dividend and a yield of 7.6%. Energy Transfer's dividend payout ratio (DPR) is presently 102.33%.

Insider Buying and Selling

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the completion of the transaction, the director owned 24,523 shares in the company, valued at $453,185.04. The trade was a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.28% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on ET. Cowen began coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating on the stock. TD Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 19th. 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 report on Tuesday, August 12th. Finally, Mizuho lifted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Energy Transfer presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.75.

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.

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.