Whittier Trust Co. of Nevada Inc. Has $4.49 Million Holdings in Energy Transfer LP $ET

Key Points

• Whittier Trust Co. of Nevada Inc. reduced its holdings in Energy Transfer LP by approximately 29.9%, owning 247,740 shares valued at $4.49 million after selling 105,500 shares in the second quarter.
• Energy Transfer announced a quarterly dividend of $0.33 per share, representing a 7.9% dividend yield and a total annualized dividend of $1.32, although the company's dividend payout ratio stands at 102.33%.
• The company's stock recently opened at $16.75 with a market capitalization of $57.51 billion, and analysts have set a consensus price target averaging around $22.67.

Whittier Trust Co. of Nevada Inc. trimmed its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 29.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 247,740 shares of the pipeline company's stock after selling 105,500 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in Energy Transfer were worth $4,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC raised its position in shares of Energy Transfer by 1.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company's stock valued at $723,000 after buying an additional 565 shares in the last quarter. Indiana Trust & Investment Management Co raised its position 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 buying an additional 576 shares in the last quarter. Beam Wealth Advisors Inc. raised its position 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 buying an additional 585 shares in the last quarter. Bogart Wealth LLC raised its position in shares of Energy Transfer by 1.9% in the second quarter. Bogart Wealth LLC now owns 32,788 shares of the pipeline company's stock valued at $594,000 after buying an additional 604 shares in the last quarter. Finally, MCF Advisors LLC raised its position 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 buying an additional 616 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Down 0.1%

Shares of NYSE:ET opened at $16.75 on Wednesday. The company has a fifty day moving average of $17.21 and a 200-day moving average of $17.38. The company has a market capitalization of $57.51 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 1.00 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. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 company's revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 earnings per share. On average, equities analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal 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 issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 7.9%. 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 currently 102.33%.

Insider Activity

In related news, Director Kelcy L. Warren purchased 1,350,000 shares of the 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 acquisition, the director 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 available through the SEC website. Company insiders own 3.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company reiterated an "overweight" rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Scotiabank started coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They issued a "sector outperform" rating and a $23.00 price target for the company. Weiss Ratings restated a "buy (b)" rating on shares of Energy Transfer in a research report on Wednesday, October 8th. UBS Group restated a "buy" rating and set a $22.00 price objective on shares of Energy Transfer in a research report on Wednesday, October 15th. Finally, Barclays restated an "overweight" rating and set a $25.00 price objective on shares of Energy Transfer in a research report on Wednesday, October 15th. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Energy Transfer presently has a consensus rating of "Moderate Buy" and an average target price of $22.67.

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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