Green Square Capital Advisors LLC lowered its position in shares of Energy Transfer LP (NYSE:ET – Get Rating) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 152,271 shares of the pipeline company's stock after selling 3,433 shares during the period. Green Square Capital Advisors LLC's holdings in Energy Transfer were worth $1,520,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in ET. Oak Harvest Investment Services increased its holdings in shares of Energy Transfer by 2.1% during the first quarter. Oak Harvest Investment Services now owns 40,395 shares of the pipeline company's stock worth $452,000 after purchasing an additional 840 shares during the period. Diversified Trust Co increased its stake in Energy Transfer by 3.6% during the 1st quarter. Diversified Trust Co now owns 26,305 shares of the pipeline company's stock worth $294,000 after acquiring an additional 912 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Energy Transfer by 1.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 102,980 shares of the pipeline company's stock valued at $1,187,000 after acquiring an additional 980 shares in the last quarter. Capital Market Strategies LLC lifted its position in shares of Energy Transfer by 5.8% during the 1st quarter. Capital Market Strategies LLC now owns 18,123 shares of the pipeline company's stock valued at $203,000 after acquiring an additional 1,000 shares during the period. Finally, Retirement Group LLC grew its holdings in shares of Energy Transfer by 40.8% during the 1st quarter. Retirement Group LLC now owns 3,450 shares of the pipeline company's stock worth $39,000 after purchasing an additional 1,000 shares in the last quarter. 38.80% of the stock is owned by institutional investors and hedge funds.
Get Energy Transfer alerts:Energy Transfer Price Performance
ET stock opened at $11.11 on Thursday. The stock has a market cap of $34.30 billion, a price-to-earnings ratio of 8.89 and a beta of 1.85. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.15 and a quick ratio of 0.98. The company has a 50 day simple moving average of $11.47 and a 200 day simple moving average of $11.07. Energy Transfer LP has a 1 year low of $7.96 and a 1 year high of $12.49.
Energy Transfer (NYSE:ET – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. Energy Transfer had a net margin of 4.83% and a return on equity of 11.98%. The company had revenue of $25.95 billion during the quarter, compared to the consensus estimate of $21.88 billion. Research analysts anticipate that Energy Transfer LP will post 1.38 EPS for the current fiscal year.Energy Transfer Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Monday, August 8th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.28%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.20. The ex-dividend date was Friday, August 5th. Energy Transfer's dividend payout ratio (DPR) is presently 73.60%.
Insider Transactions at Energy Transfer
In other Energy Transfer news, Director Richard D. Brannon purchased 26,027 shares of the firm's stock in a transaction on Thursday, July 14th. The stock was purchased at an average cost of $9.47 per share, for a total transaction of $246,475.69. Following the transaction, the director now owns 388,347 shares in the company, valued at approximately $3,677,646.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Richard D. Brannon bought 26,027 shares of the business's stock in a transaction on Thursday, July 14th. The shares were purchased at an average cost of $9.47 per share, with a total value of $246,475.69. Following the acquisition, the director now owns 388,347 shares of the company's stock, valued at $3,677,646.09. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Kelcy L. Warren purchased 1,591,092 shares of the firm's stock in a transaction dated Tuesday, August 9th. The stock was bought at an average cost of $10.94 per share, with a total value of $17,406,546.48. Following the purchase, the chairman now owns 49,578,477 shares of the company's stock, valued at approximately $542,388,538.38. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 4,045,866 shares of company stock worth $46,895,136. Insiders own 3.28% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently commented on ET. US Capital Advisors reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Wednesday, June 1st. Royal Bank of Canada upped their price target on shares of Energy Transfer from $15.00 to $16.00 and gave the stock an "outperform" rating in a report on Thursday, August 18th. Finally, Barclays lifted their price objective on shares of Energy Transfer from $13.00 to $14.00 and gave the company an "overweight" rating in a research note on Tuesday, August 16th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $14.67.
Energy Transfer Company Profile
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Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.
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