Energy Transfer LP $ET Shares Sold by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP cut its stake in Energy Transfer LP (NYSE:ET) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,966,952 shares of the pipeline company’s stock after selling 97,364 shares during the period. Energy Transfer accounts for 9.0% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 3rd largest position. Kayne Anderson Capital Advisors LP’s holdings in Energy Transfer were worth $411,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in ET. Brighton Jones LLC increased its position in shares of 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 during the last quarter. AQR Capital Management LLC lifted its position in shares of Energy Transfer by 62.8% during the first quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock worth $391,000 after purchasing an additional 8,118 shares during the last quarter. Focus Partners Advisor Solutions LLC acquired a new position in Energy Transfer in the second quarter worth about $877,000. Envestnet Asset Management Inc. increased its holdings in Energy Transfer by 5.6% in the second quarter. Envestnet Asset Management Inc. now owns 915,209 shares of the pipeline company’s stock valued at $16,593,000 after buying an additional 48,214 shares during the last quarter. Finally, Clark Asset Management LLC acquired a new stake in Energy Transfer during the second quarter valued at approximately $437,000. 38.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on ET. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Wednesday, January 7th. TD Cowen raised their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a report on Friday, January 16th. Barclays reissued an “overweight” rating and set a $22.00 target price (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Energy Transfer in a research report on Wednesday, February 18th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.20.

Energy Transfer Stock Performance

ET stock opened at $18.79 on Wednesday. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $19.51. The stock has a market capitalization of $64.65 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 0.97 and a beta of 0.66. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22. The stock’s fifty day moving average is $17.53 and its two-hundred day moving average is $17.18.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.09). The firm had revenue of $25.32 billion during the quarter, compared to analyst estimates of $23.56 billion. Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The firm’s revenue was up 29.6% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. On average, research analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were given a dividend of $0.335 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 annualized dividend and a dividend yield of 7.1%. The ex-dividend date was Friday, February 6th. Energy Transfer’s payout ratio is presently 110.74%.

Energy Transfer Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.