Energy Transfer LP $ET Shares Sold by Baldwin Wealth Partners LLC MA

Baldwin Wealth Partners LLC MA cut its holdings in shares of Energy Transfer LP (NYSE:ET) by 1.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 266,003 shares of the pipeline company’s stock after selling 2,750 shares during the period. Baldwin Wealth Partners LLC MA’s holdings in Energy Transfer were worth $4,823,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC bought a new position in shares of Energy Transfer during the second quarter worth about $168,917,000. Alps Advisors Inc. grew its stake in Energy Transfer by 12.9% in the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company’s stock worth $1,400,831,000 after purchasing an additional 8,613,645 shares in the last quarter. Commerce Bank acquired a new position in Energy Transfer in the first quarter worth about $92,607,000. Energy Income Partners LLC grew its stake in Energy Transfer by 12.0% in the first quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company’s stock worth $429,802,000 after purchasing an additional 2,471,401 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Energy Transfer in the first quarter worth about $44,876,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren purchased 1,350,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were bought at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the acquisition, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This represents a 1.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ET. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday. TD Cowen began coverage on Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating and a $22.00 price target for the company. Scotiabank began coverage on Energy Transfer in a research note on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 price target for the company. Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a “buy” rating on the stock. Finally, Morgan Stanley cut their target price on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Fourteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.50.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $16.62 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The firm’s 50-day moving average price is $17.37 and its two-hundred day moving average price is $17.49. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The stock has a market capitalization of $57.05 billion, a P/E ratio of 12.88, a P/E/G ratio of 0.98 and a beta of 0.78.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $19.24 billion for the quarter, compared to analysts’ expectations of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 earnings per share. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm 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 7.9%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 8th. Energy Transfer’s dividend payout ratio is presently 102.33%.

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.