Energy Transfer LP (NYSE:ET) Shares Sold by Herold Advisors Inc.

Herold Advisors Inc. cut its position in Energy Transfer LP (NYSE:ETGet Rating) by 48.2% during the second quarter, Holdings Channel reports. The firm owned 10,200 shares of the pipeline company’s stock after selling 9,500 shares during the period. Herold Advisors Inc.’s holdings in Energy Transfer were worth $101,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Truist Financial Corp increased its holdings in shares of Energy Transfer by 7.4% in the first quarter. Truist Financial Corp now owns 799,181 shares of the pipeline company’s stock valued at $8,944,000 after purchasing an additional 54,910 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Energy Transfer by 40.6% in the first quarter. Fisher Asset Management LLC now owns 37,850 shares of the pipeline company’s stock valued at $424,000 after purchasing an additional 10,936 shares during the period. Wealth Alliance increased its holdings in shares of Energy Transfer by 58.7% in the first quarter. Wealth Alliance now owns 50,825 shares of the pipeline company’s stock valued at $569,000 after purchasing an additional 18,798 shares during the period. Sfmg LLC increased its holdings in shares of Energy Transfer by 18.1% in the first quarter. Sfmg LLC now owns 22,154 shares of the pipeline company’s stock valued at $248,000 after purchasing an additional 3,395 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its holdings in Energy Transfer by 23.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 144,629 shares of the pipeline company’s stock worth $1,619,000 after acquiring an additional 27,215 shares during the period. 38.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Kelcy L. Warren bought 2,428,747 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were acquired at an average price of $12.04 per share, for a total transaction of $29,242,113.88. Following the completion of the transaction, the chairman now directly owns 52,007,224 shares in the company, valued at approximately $626,166,976.96. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman Kelcy L. Warren bought 2,428,747 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were acquired at an average price of $12.04 per share, for a total transaction of $29,242,113.88. Following the completion of the transaction, the chairman now directly owns 52,007,224 shares in the company, valued at approximately $626,166,976.96. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard D. Brannon acquired 26,027 shares of Energy Transfer stock in a transaction that occurred on Thursday, July 14th. The shares were bought at an average price of $9.47 per share, for a total transaction of $246,475.69. Following the transaction, the director now owns 388,347 shares of the company’s stock, valued at approximately $3,677,646.09. The disclosure for this purchase can be found here. Insiders have bought a total of 4,045,866 shares of company stock worth $46,895,136 over the last quarter. 3.28% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ET has been the topic of several analyst reports. Barclays raised their target price on Energy Transfer from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, August 16th. Royal Bank of Canada raised their target price on Energy Transfer from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. Finally, US Capital Advisors reaffirmed a “buy” rating on shares of Energy Transfer in a report on Wednesday, June 1st. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $14.67.

Energy Transfer Price Performance

ET stock traded down $0.78 during mid-day trading on Friday, reaching $10.54. 59,956,035 shares of the company’s stock were exchanged, compared to its average volume of 21,555,754. The company has a market cap of $32.54 billion, a price-to-earnings ratio of 8.51 and a beta of 1.85. The stock’s 50 day moving average is $11.44 and its 200 day moving average is $11.06. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.15 and a quick ratio of 0.98. Energy Transfer LP has a 12-month low of $7.96 and a 12-month high of $12.49.

Energy Transfer (NYSE:ETGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The company had revenue of $25.95 billion for the quarter, compared to the consensus estimate of $21.88 billion. Energy Transfer had a return on equity of 11.98% and a net margin of 4.83%. On average, research analysts expect that Energy Transfer LP will post 1.38 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 8.73%. The ex-dividend date of this dividend was Friday, August 5th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.20. Energy Transfer’s dividend payout ratio (DPR) is 73.60%.

Energy Transfer Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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