Henson Edgewater Management LLC Has $2.78 Million Stake in Energy Transfer LP $ET

Henson Edgewater Management LLC trimmed its position in Energy Transfer LP (NYSE:ET) by 15.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 132,625 shares of the pipeline company’s stock after selling 25,155 shares during the period. Energy Transfer makes up approximately 1.6% of Henson Edgewater Management LLC’s investment portfolio, making the stock its 20th largest holding. Henson Edgewater Management LLC’s holdings in Energy Transfer were worth $2,778,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ET. Basepoint Wealth LLC bought a new position in Energy Transfer during the fourth quarter worth about $25,000. Osbon Capital Management LLC acquired a new position in Energy Transfer during the second quarter worth approximately $25,000. Gables Capital Management Inc. raised its stake in Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after buying an additional 600 shares during the period. Sarver Vrooman Wealth Advisors bought a new stake in Energy Transfer in the fourth quarter valued at approximately $32,000. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of Energy Transfer in the first quarter valued at approximately $35,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ET has been the topic of a number of recent analyst reports. Barclays reissued an “overweight” rating and set a $24.00 target price (up from $23.00) on shares of Energy Transfer in a report on Wednesday, August 5th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Morgan Stanley lifted their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Stifel Nicolaus upped their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Zacks Research lowered shares of Energy Transfer from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $24.08.

Insider Buying and Selling

In other news, Director James Richard Perry purchased 12,359 shares of Energy Transfer stock in a transaction dated Friday, August 7th. The shares were bought at an average cost 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 in the company, valued at approximately $4,208,770.58. This trade represents a 6.32% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelcy L. Warren acquired 647,968 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average price of $21.26 per share, with a total value of $13,775,799.68. Following the acquisition, the director owned 147,901,879 shares in the company, valued at $3,144,393,947.54. The trade was a 0.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 1,012,359 shares of company stock worth $21,513,543. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Trading Down 0.4%

ET stock opened at $21.30 on Friday. 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 company’s 50-day simple moving average is $20.22 and its 200 day simple moving average is $19.52. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $21.64. The company has a market capitalization of $73.34 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 0.75 and a beta of 0.55.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.21. The company had revenue of $34.33 billion during the quarter, compared to the consensus estimate of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The firm’s quarterly revenue was up 78.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.66 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.4%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, August 7th. Energy Transfer’s dividend payout ratio (DPR) is currently 92.52%.

About Energy Transfer

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.