Waverly Advisors LLC Has $26.58 Million Stock Position in Energy Transfer LP $ET

Waverly Advisors LLC cut its holdings in Energy Transfer LP (NYSE:ET) by 19.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,390,296 shares of the pipeline company’s stock after selling 335,547 shares during the period. Waverly Advisors LLC’s holdings in Energy Transfer were worth $26,582,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ET. Brighton Jones LLC raised its holdings in shares of Energy Transfer by 93.4% in the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after purchasing an additional 11,844 shares during the period. AQR Capital Management LLC boosted its position in Energy Transfer by 62.8% during the first quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock worth $391,000 after purchasing an additional 8,118 shares during the period. Geode Capital Management LLC grew its stake in 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 buying an additional 7,901 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Energy Transfer by 436.5% during the second quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock worth $76,000 after acquiring an additional 3,400 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its holdings in Energy Transfer by 5.6% during 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 during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren acquired 647,968 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were bought at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the completion of the transaction, the director owned 147,901,879 shares in the company, valued at approximately $3,144,393,947.54. This trade represents a 0.44% 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. Also, Director James Perry bought 12,359 shares of the company’s stock in a transaction on Friday, August 7th. The shares were bought at an average price of $20.23 per share, with a total value of $250,022.57. Following the completion of the transaction, the director owned 208,046 shares of the company’s stock, valued at $4,208,770.58. The trade was a 6.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 1,012,359 shares of company stock valued at $21,513,543. Insiders own 3.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ET shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, July 21st. Wall Street Zen upgraded shares of Energy Transfer from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Zacks Research downgraded shares of Energy Transfer from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Citigroup reissued a “buy” rating and issued a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research note on Friday, August 7th. One research 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.17.

Energy Transfer Trading Up 0.0%

Shares of Energy Transfer stock traded up $0.01 during midday trading on Tuesday, reaching $21.50. The company had a trading volume of 6,984,750 shares, compared to its average volume of 12,893,168. The firm has a market cap of $74.05 billion, a PE ratio of 14.63, a P/E/G ratio of 0.73 and a beta of 0.57. The stock has a fifty day moving average price of $20.56 and a 200 day moving average price of $19.68. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $21.77.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.38 by $0.21. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The company had revenue of $34.33 billion for the quarter, compared to analyst estimates of $27.71 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 78.4% compared to the same quarter last year. On average, equities analysts anticipate that Energy Transfer LP will post 1.7 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were issued a $0.34 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.36 annualized dividend and a yield of 6.3%. Energy Transfer’s payout ratio is 92.52%.

Energy Transfer Company Profile

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.