Energy Transfer LP $ET Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC lessened its holdings in shares of Energy Transfer LP (NYSE:ET) by 22.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 163,181 shares of the pipeline company’s stock after selling 46,736 shares during the period. Cullen Capital Management LLC’s holdings in Energy Transfer were worth $3,120,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC boosted its holdings in Energy Transfer by 93.4% in the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after acquiring an additional 11,844 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Energy Transfer by 62.8% in the 1st quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock valued at $391,000 after purchasing an additional 8,118 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Energy Transfer by 6.2% in the 2nd quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock valued at $2,455,000 after purchasing an additional 7,901 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Energy Transfer by 436.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock worth $76,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its stake in Energy Transfer by 5.6% in the 2nd quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company’s stock worth $923,000 after purchasing an additional 2,700 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Buying and Selling

In related news, Director Kelcy L. Warren purchased 647,968 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was bought at an average cost of $21.26 per share, with a total value of $13,775,799.68. Following the completion of the acquisition, the director owned 147,901,879 shares of the company’s stock, valued at $3,144,393,947.54. The trade was a 0.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James Richard Perry acquired 12,359 shares of the stock in a transaction on Friday, August 7th. The stock was bought at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the transaction, the director owned 208,046 shares in the company, valued at approximately $4,208,770.58. This represents a 6.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 1,012,359 shares of company stock valued at $21,513,543 over the last three months. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Stock Down 0.5%

NYSE:ET opened at $21.09 on Tuesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94. The company’s fifty day moving average price is $20.02 and its 200-day moving average price is $19.45. Energy Transfer LP has a 1-year low of $16.18 and a 1-year high of $21.64. The firm has a market capitalization of $72.62 billion, a P/E ratio of 14.35, a PEG ratio of 0.74 and a beta of 0.55.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.21. The company had revenue of $34.33 billion during the quarter, compared to the consensus estimate of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The firm’s quarterly revenue was up 78.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.66 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were given a dividend of $0.34 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.36 annualized dividend and a yield of 6.4%. The ex-dividend date was Friday, August 7th. Energy Transfer’s dividend payout ratio (DPR) is 92.52%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ET. Raymond James Financial restated a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Jefferies Financial Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Wednesday, August 5th. Truist Financial upped their target price on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Wall Street Zen raised Energy Transfer from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.08.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.