Energy Transfer LP (NYSE:ET) Shares Sold by Centaurus Financial Inc.

Centaurus Financial Inc. reduced its stake in shares of Energy Transfer LP (NYSE:ET) by 18.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 39,741 shares of the pipeline company’s stock after selling 8,853 shares during the period. Centaurus Financial Inc.’s holdings in Energy Transfer were worth $645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. First Reserve GP XIII Ltd acquired a new stake in Energy Transfer in the fourth quarter worth about $322,097,000. Tortoise Capital Advisors L.L.C. increased its holdings in shares of Energy Transfer by 12.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after buying an additional 4,141,715 shares in the last quarter. Natixis lifted its position in shares of Energy Transfer by 20.0% during the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after acquiring an additional 2,999,300 shares during the last quarter. Payden & Rygel Investment Group acquired a new stake in shares of Energy Transfer during the 1st quarter valued at $20,164,000. Finally, Merewether Investment Management LP boosted its stake in shares of Energy Transfer by 22.3% during the 2nd quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock worth $106,919,000 after acquiring an additional 1,200,501 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Insider Activity

In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of the stock in a transaction on Friday, August 23rd. 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 transaction, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Energy Transfer news, Director Kelcy L. Warren acquired 3,000,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the purchase, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gregory G. Mcilwain purchased 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 3,040,000 shares of company stock worth $47,667,200. 3.28% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ET has been the topic of a number of recent analyst reports. UBS Group boosted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Morgan Stanley boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Mizuho raised their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average target price of $19.14.

Energy Transfer Stock Down 0.1 %

Energy Transfer stock opened at $16.30 on Friday. The firm’s 50 day moving average price is $16.03 and its two-hundred day moving average price is $15.89. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. Energy Transfer LP has a twelve month low of $12.90 and a twelve month high of $16.50. The firm has a market cap of $54.91 billion, a PE ratio of 14.95, a P/E/G ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. During the same period in the previous year, the business posted $0.25 EPS. Energy Transfer’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, research analysts predict that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 7.86%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. Energy Transfer’s payout ratio is currently 117.43%.

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.