Doliver Advisors LP Cuts Stake in Energy Transfer LP $ET

Doliver Advisors LP decreased its stake in Energy Transfer LP (NYSE:ET) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,057 shares of the pipeline company’s stock after selling 1,187 shares during the period. Doliver Advisors LP’s holdings in Energy Transfer were worth $563,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Capital A Wealth Management LLC acquired a new position in shares of Energy Transfer in the 4th quarter valued at $26,000. Fourth Dimension Wealth LLC acquired a new position in shares of Energy Transfer in the 4th quarter valued at $29,000. Vision Financial Markets LLC acquired a new position in shares of Energy Transfer in the 1st quarter valued at $33,000. Stone House Investment Management LLC acquired a new position in shares of Energy Transfer in the 1st quarter valued at $38,000. Finally, HWG Holdings LP acquired a new position in shares of Energy Transfer in the 1st quarter valued at $38,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

NYSE:ET opened at $17.45 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The firm has a 50-day moving average price of $17.55 and a two-hundred day moving average price of $17.66. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The company has a market capitalization of $59.90 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 1.00 and a beta of 0.85.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm had revenue of $19.24 billion during the quarter, compared to the consensus estimate of $24.07 billion. During the same period last year, the firm posted $0.35 EPS. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. As a group, research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.6%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, August 8th. Energy Transfer’s payout ratio is presently 102.33%.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren purchased 1,350,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was acquired at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the acquisition, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This represents a 1.99% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.28% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on ET shares. Mizuho increased their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 20th. TD Cowen started coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating and a $22.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Wells Fargo & Company restated an “overweight” rating and issued a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Finally, Cowen started coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating for the company. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average price target of $22.54.

Energy Transfer Company 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.