Energy Transfer LP (NYSE:ET) Stock Holdings Increased by Americana Partners LLC

Americana Partners LLC increased its stake in shares of Energy Transfer LP (NYSE:ET) by 1.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 701,322 shares of the pipeline company’s stock after buying an additional 8,913 shares during the quarter. Energy Transfer comprises approximately 0.9% of Americana Partners LLC’s portfolio, making the stock its 28th largest holding. Americana Partners LLC’s holdings in Energy Transfer were worth $11,375,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Northwest Financial Advisors acquired a new position in Energy Transfer in the 4th quarter worth about $25,000. LRI Investments LLC acquired a new position in Energy Transfer in the first quarter worth approximately $29,000. Atlantic Edge Private Wealth Management LLC bought a new position in Energy Transfer during the fourth quarter valued at approximately $33,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Energy Transfer in the fourth quarter valued at approximately $34,000. Finally, EdgeRock Capital LLC bought a new stake in Energy Transfer in the fourth quarter worth approximately $37,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ET. Stifel Nicolaus raised their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, May 9th. UBS Group raised their target price on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Mizuho upped their price target on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Morgan Stanley raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, JPMorgan Chase & Co. boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Stock Performance

Shares of NYSE ET traded up $0.14 during trading hours on Friday, hitting $16.10. 7,872,503 shares of the company’s stock were exchanged, compared to its average volume of 13,442,986. The company’s 50-day moving average price is $16.10 and its 200-day moving average price is $15.68. Energy Transfer LP has a 1-year low of $12.90 and a 1-year high of $16.50. The stock has a market capitalization of $54.26 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.42 and a beta of 1.66. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 earnings per share. On average, sell-side analysts expect that Energy Transfer LP will post 1.49 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a yield of 7.95%. Energy Transfer’s dividend payout ratio is 117.43%.

Insiders Place Their Bets

In other news, CEO Thomas E. Long purchased 20,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Thomas E. Long bought 20,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The disclosure for this purchase can be found here. Insiders have purchased 3,040,000 shares of company stock worth $47,667,200 in the last ninety days. Insiders own 3.28% of the company’s stock.

About Energy Transfer

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.