WP Advisors LLC Acquires Shares of 15,067 Energy Transfer LP (NYSE:ET)

Key Points

• WP Advisors LLC has acquired a new stake in Energy Transfer LP, purchasing 15,067 shares valued at approximately $280,000 during the first quarter.
• Energy Transfer recently declared a quarterly dividend of $0.33 per share, which signifies a positive change and a dividend yield of 7.6%.
• Equities analysts have a generally positive outlook for Energy Transfer, with a consensus price target of $22.58 and an average rating of "Moderate Buy."

WP Advisors LLC purchased a new stake in shares of Energy Transfer LP (NYSE:ET - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 15,067 shares of the pipeline company's stock, valued at approximately $280,000.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in Energy Transfer by 93.4% in the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock worth $481,000 after purchasing an additional 11,844 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Energy Transfer by 20.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 12,090 shares of the pipeline company's stock worth $237,000 after buying an additional 2,032 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Energy Transfer by 5.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,702,380 shares of the pipeline company's stock worth $72,530,000 after buying an additional 204,779 shares during the last quarter. Sagespring Wealth Partners LLC bought a new position in shares of Energy Transfer in the 4th quarter worth $381,000. Finally, Advisors Capital Management LLC increased its holdings in shares of Energy Transfer by 1.3% in the 4th quarter. Advisors Capital Management LLC now owns 499,921 shares of the pipeline company's stock worth $9,793,000 after buying an additional 6,191 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Energy Transfer

In related news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction dated 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 directly owned 24,523 shares of the company's stock, valued at $453,185.04. This trade represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and set a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. TD Cowen assumed coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a "buy" rating and a $22.00 target price on the stock. Mizuho increased their target price 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. Finally, Cowen initiated coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $22.75.

Energy Transfer Trading Up 0.5%

Shares of NYSE:ET traded up $0.09 on Wednesday, hitting $17.48. The company had a trading volume of 11,993,133 shares, compared to its average volume of 15,651,073. The firm's 50-day simple moving average is $17.77 and its two-hundred day simple moving average is $18.07. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $60.00 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 0.89 and a beta of 0.83.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 period last year, the company posted $0.35 EPS. Energy Transfer's revenue was down 7.2% on a year-over-year basis. Equities 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 declared a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Friday, August 8th will be given a dividend of $0.33 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.32 dividend on an annualized basis and a yield of 7.6%. Energy Transfer's dividend payout ratio is 102.33%.

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.