Energy Transfer LP (NYSE:ET) Shares Sold by NBW Capital LLC

NBW Capital LLC lessened its holdings in Energy Transfer LP (NYSE:ET) by 2.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 891,766 shares of the pipeline company’s stock after selling 26,658 shares during the quarter. Energy Transfer comprises approximately 2.9% of NBW Capital LLC’s portfolio, making the stock its 6th largest holding. NBW Capital LLC’s holdings in Energy Transfer were worth $14,464,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ET. Rehmann Capital Advisory Group grew its stake in Energy Transfer by 2.0% during the first quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock worth $505,000 after buying an additional 633 shares during the last quarter. Veracity Capital LLC grew its stake in Energy Transfer by 2.0% during the second quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock worth $545,000 after buying an additional 659 shares during the last quarter. Sfmg LLC grew its stake in Energy Transfer by 2.2% during the first quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock worth $494,000 after buying an additional 674 shares during the last quarter. Morton Capital Management LLC CA grew its stake in Energy Transfer by 1.6% during the second quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock worth $720,000 after buying an additional 699 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its stake in Energy Transfer by 3.6% during the first quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock worth $318,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

ET opened at $16.21 on Wednesday. Energy Transfer LP has a one year low of $12.90 and a one year high of $16.50. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The company’s 50 day simple moving average is $16.05 and its 200-day simple moving average is $15.85. The stock has a market capitalization of $55.47 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. During the same period last year, the company earned $0.25 earnings per share. Energy Transfer’s revenue for the quarter was up 13.1% compared to the same quarter last year. Sell-side analysts anticipate that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a yield of 7.90%. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Mizuho upped their price objective on shares of 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 upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. JPMorgan Chase & Co. increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Finally, UBS Group increased their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $19.14.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, CEO Thomas E. Long acquired 20,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Kelcy L. Warren bought 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas E. Long bought 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the acquisition, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is currently owned by insiders.

Energy Transfer Profile

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.