Energy Transfer LP $ET Shares Sold by RR Advisors LLC

RR Advisors LLC lessened its position in shares of Energy Transfer LP (NYSE:ET) by 14.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,388,000 shares of the pipeline company’s stock after selling 417,000 shares during the quarter. Energy Transfer comprises 10.4% of RR Advisors LLC’s investment portfolio, making the stock its biggest holding. RR Advisors LLC owned about 0.07% of Energy Transfer worth $43,302,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. purchased a new stake in Energy Transfer in the 2nd quarter valued at $31,000. Vision Financial Markets LLC acquired a new position in Energy Transfer in the first quarter valued at $33,000. CNB Bank raised its holdings in shares of Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after buying an additional 1,000 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Energy Transfer during the first quarter worth about $38,000. Finally, HHM Wealth Advisors LLC grew its holdings in shares of Energy Transfer by 54.4% during the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock worth $41,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ET. Barclays reaffirmed an “overweight” rating and set a $25.00 price objective on shares of Energy Transfer in a research note on Wednesday, October 15th. Scotiabank decreased their price target on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a report on Thursday, November 13th. UBS Group restated a “buy” rating and set a $22.00 price objective on shares of Energy Transfer in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. Finally, Jefferies Financial Group set a $17.00 price objective on Energy Transfer and gave the company a “hold” rating in a report on Tuesday, October 28th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.92.

Energy Transfer Stock Up 0.6%

ET stock opened at $16.81 on Tuesday. The company has a market cap of $57.70 billion, a P/E ratio of 13.03, a P/E/G ratio of 1.01 and a beta of 0.76. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The company’s 50-day moving average price is $16.79 and its 200 day moving average price is $17.37. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The company had revenue of $19.95 billion during the quarter, compared to analysts’ expectations of $21.84 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the business posted $0.32 earnings per share. On average, 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 disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were issued a dividend of $0.3325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 annualized dividend and a yield of 7.9%. The ex-dividend date of this dividend was Friday, November 7th. Energy Transfer’s payout ratio is presently 106.40%.

Insider Buying and Selling

In other news, Director Kelcy L. Warren bought 1,000,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the acquisition, the director owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.28% of the company’s stock.

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.