Van ECK Associates Corp Sells 84,828 Shares of Energy Transfer LP $ET

Van ECK Associates Corp cut its holdings in shares of Energy Transfer LP (NYSE:ET) by 21.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 317,813 shares of the pipeline company’s stock after selling 84,828 shares during the quarter. Van ECK Associates Corp’s holdings in Energy Transfer were worth $6,077,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Texas Yale Capital Corp. grew its holdings in Energy Transfer by 6.1% during the 4th quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company’s stock valued at $21,634,000 after buying an additional 75,700 shares in the last quarter. Summit Securities Group LLC lifted its holdings in shares of Energy Transfer by 179.0% in the first quarter. Summit Securities Group LLC now owns 162,100 shares of the pipeline company’s stock worth $3,129,000 after buying an additional 104,000 shares in the last quarter. North Star Investment Management Corp. boosted its position in shares of Energy Transfer by 39.0% in the first quarter. North Star Investment Management Corp. now owns 224,439 shares of the pipeline company’s stock valued at $4,332,000 after acquiring an additional 62,916 shares during the period. Mizuho Markets Americas LLC bought a new position in shares of Energy Transfer in the first quarter valued at approximately $61,760,000. Finally, Sanctuary Advisors LLC boosted its position in shares of Energy Transfer by 15.8% in the first quarter. Sanctuary Advisors LLC now owns 1,888,661 shares of the pipeline company’s stock valued at $36,451,000 after acquiring an additional 257,954 shares during the period. Institutional investors own 38.22% of the company’s stock.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren bought 647,968 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was bought at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the completion of the transaction, the director owned 147,901,879 shares of the company’s stock, valued at approximately $3,144,393,947.54. The trade was a 0.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Richard Perry bought 12,359 shares of Energy Transfer stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average cost of $20.23 per share, for a total transaction of $250,022.57. Following the purchase, the director owned 208,046 shares of the company’s stock, valued at $4,208,770.58. The trade was a 6.32% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 1,012,359 shares of company stock worth $21,513,543. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Stock Up 0.5%

ET stock opened at $21.52 on Thursday. The company’s 50 day moving average is $20.37 and its 200 day moving average is $19.61. The stock has a market cap of $74.11 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 0.73 and a beta of 0.57. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45. Energy Transfer LP has a 1-year low of $16.18 and a 1-year high of $21.77.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The business had revenue of $34.33 billion during the quarter, compared to analyst estimates of $27.71 billion. During the same period in the previous year, the business posted $0.32 earnings per share. Energy Transfer’s revenue for the quarter was up 78.4% on a year-over-year basis. Sell-side analysts predict that Energy Transfer LP will post 1.7 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were given a dividend of $0.34 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, August 7th. This represents a $1.36 annualized dividend and a dividend yield of 6.3%. Energy Transfer’s dividend payout ratio is 92.52%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a report on Tuesday, May 12th. JPMorgan Chase & Co. raised their price target on shares of Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Zacks Research lowered shares of Energy Transfer from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Morgan Stanley upped their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 18th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.08.

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.