Sunbeam Capital Management LLC Has $307,000 Position in Energy Transfer LP $ET

Sunbeam Capital Management LLC cut its position in Energy Transfer LP (NYSE:ET) by 10.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,935 shares of the pipeline company’s stock after selling 1,943 shares during the quarter. Sunbeam Capital Management LLC’s holdings in Energy Transfer were worth $307,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tcfg Wealth Management LLC grew its holdings in shares of Energy Transfer by 34.9% during the 2nd quarter. Tcfg Wealth Management LLC now owns 28,833 shares of the pipeline company’s stock valued at $523,000 after purchasing an additional 7,463 shares during the last quarter. Trueblood Wealth Management LLC grew its holdings in shares of Energy Transfer by 247.0% during the 2nd quarter. Trueblood Wealth Management LLC now owns 49,209 shares of the pipeline company’s stock valued at $892,000 after purchasing an additional 35,029 shares during the last quarter. KPP Advisory Services LLC grew its holdings in shares of Energy Transfer by 5.1% during the 2nd quarter. KPP Advisory Services LLC now owns 38,039 shares of the pipeline company’s stock valued at $690,000 after purchasing an additional 1,831 shares during the last quarter. Confluence Wealth Services Inc. bought a new stake in shares of Energy Transfer during the 2nd quarter valued at approximately $4,072,000. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Energy Transfer by 2.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 186,126 shares of the pipeline company’s stock valued at $3,374,000 after purchasing an additional 5,200 shares during the last quarter. 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 acquired 1,350,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was purchased at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the transaction, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 3.28% of the company’s stock.

Energy Transfer Trading Down 0.8%

NYSE:ET opened at $16.66 on Tuesday. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. The firm’s fifty day moving average is $17.45 and its 200-day moving average is $17.51. The firm has a market cap of $57.19 billion, a P/E ratio of 12.91, a P/E/G ratio of 0.99 and a beta of 0.78.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company had revenue of $19.24 billion during the quarter, compared to analysts’ expectations of $24.07 billion. During the same period in the prior year, the company posted $0.35 earnings per share. Energy Transfer’s revenue for the quarter was down 7.2% compared to the same quarter last year. Equities analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were given a $0.33 dividend. 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. This represents a $1.32 annualized dividend and a dividend yield of 7.9%. Energy Transfer’s dividend payout ratio is 102.33%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Morgan Stanley decreased their price target 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. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a report on Saturday, September 27th. Cowen initiated coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a “buy” rating on the stock. TD Cowen initiated coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a “buy” rating and a $22.00 target price on the stock. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Fourteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

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.