Energy Transfer LP $ET Stock Bought by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY lifted its holdings in Energy Transfer LP (NYSEAMERICAN:ET) by 6.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,679,174 shares of the pipeline company’s stock after acquiring an additional 364,190 shares during the period. Energy Transfer makes up approximately 3.0% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 3rd largest position. Miller Howard Investments Inc. NY owned about 0.16% of Energy Transfer worth $112,277,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Bank of America Corp DE boosted its stake in shares of Energy Transfer by 5.7% in the first quarter. Bank of America Corp DE now owns 30,956,358 shares of the pipeline company’s stock valued at $597,458,000 after buying an additional 1,656,609 shares during the period. Energy Income Partners LLC grew its holdings in shares of Energy Transfer by 1.8% during the 2nd quarter. Energy Income Partners LLC now owns 25,654,536 shares of the pipeline company’s stock worth $490,515,000 after purchasing an additional 447,081 shares in the last quarter. Recurrent Investment Advisors LLC increased its position in shares of Energy Transfer by 3.9% in the first quarter. Recurrent Investment Advisors LLC now owns 5,562,381 shares of the pipeline company’s stock worth $107,354,000 after purchasing an additional 211,026 shares during the period. BlackRock Inc. increased its position in shares of Energy Transfer by 0.4% in the second quarter. BlackRock Inc. now owns 4,017,925 shares of the pipeline company’s stock worth $76,823,000 after purchasing an additional 16,926 shares during the period. Finally, Mizuho Markets Americas LLC bought a new position in shares of Energy Transfer in the first quarter worth $61,760,000. 38.22% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Kelcy Warren bought 647,968 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were purchased at an average price of $21.26 per share, with a total value of $13,775,799.68. Following the completion of the purchase, the director owned 147,901,879 shares in the company, valued at $3,144,393,947.54. This represents a 0.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director James Perry purchased 12,359 shares of Energy Transfer stock in a transaction dated Friday, August 7th. The shares were purchased at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the acquisition, the director owned 208,046 shares of the company’s stock, valued at approximately $4,208,770.58. The trade was a 6.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 1,012,359 shares of company stock worth $21,513,543 in the last 90 days. Company insiders own 3.28% of the company’s stock.

Energy Transfer Trading Up 0.7%

Shares of ET opened at $20.60 on Tuesday. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $21.84. The business’s fifty day moving average is $20.81 and its 200-day moving average is $19.55. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. The firm has a market cap of $70.93 billion, a price-to-earnings ratio of 14.01 and a beta of 0.60.

Energy Transfer (NYSEAMERICAN:ET) last posted its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.21. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%. The company had revenue of $34.33 billion during the quarter, compared to analysts’ expectations of $27.71 billion. During the same quarter in the previous year, the firm earned $0.32 EPS. Energy Transfer’s revenue was up 78.4% on a year-over-year basis. Equities analysts anticipate that Energy Transfer LP will post 1.73 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Friday, November 6th will be paid a $0.3425 dividend. This represents a $1.37 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date is Friday, November 6th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio is 92.52%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ET shares. Zacks Research downgraded Energy Transfer from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Capital One Financial started coverage on shares of Energy Transfer in a research note on Tuesday, September 22nd. They set an “overweight” rating and a $26.00 price objective on the stock. Truist Financial raised their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Jefferies Financial Group restated a “buy” rating on shares of Energy Transfer in a research report on Wednesday, August 5th. Finally, Citigroup reaffirmed a “buy” rating and set a $24.00 price target (up from $23.00) on shares of Energy Transfer in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $24.60.

About Energy Transfer

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.