Energy Transfer LP $ET Shares Sold by SL Advisors LLC

SL Advisors LLC cut its position in shares of Energy Transfer LP (NYSEAMERICAN:ET) by 5.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 448,898 shares of the pipeline company’s stock after selling 25,000 shares during the period. Energy Transfer accounts for 18.2% of SL Advisors LLC’s holdings, making the stock its biggest position. SL Advisors LLC’s holdings in Energy Transfer were worth $8,875,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ET. Bank of America Corp DE raised its holdings in Energy Transfer by 5.7% in the 1st quarter. Bank of America Corp DE now owns 30,956,358 shares of the pipeline company’s stock worth $597,458,000 after purchasing an additional 1,656,609 shares during the period. Energy Income Partners LLC lifted its holdings in Energy Transfer by 1.8% during the second quarter. Energy Income Partners LLC now owns 25,654,536 shares of the pipeline company’s stock valued at $490,515,000 after purchasing an additional 447,081 shares in the last quarter. Recurrent Investment Advisors LLC grew its position in shares of Energy Transfer by 3.9% in the first quarter. Recurrent Investment Advisors LLC now owns 5,562,381 shares of the pipeline company’s stock valued at $107,354,000 after purchasing an additional 211,026 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in Energy Transfer by 14.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,544,553 shares of the pipeline company’s stock worth $74,940,000 after buying an additional 578,137 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Energy Transfer by 0.4% during the 2nd quarter. BlackRock Inc. now owns 4,017,925 shares of the pipeline company’s stock worth $76,823,000 after buying an additional 16,926 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Activity

In other Energy Transfer news, Director James Perry purchased 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 acquisition, the director directly owned 208,046 shares of the company’s stock, valued at $4,208,770.58. This represents a 6.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Kelcy L. Warren acquired 647,968 shares of the stock in a transaction dated Wednesday, August 19th. The shares were bought at an average cost of $21.26 per share, with a total value of $13,775,799.68. Following the completion of the purchase, the director directly 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 disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 1,012,359 shares of company stock valued at $21,513,543 in the last three months. 3.28% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ET has been the topic of several research reports. Citigroup restated a “buy” rating and issued a $24.00 target price (up from $23.00) on shares of Energy Transfer in a research report on Friday, August 7th. TD Cowen restated a “buy” rating and issued a $25.00 target price (up from $24.00) on shares of Energy Transfer in a research report on Monday, August 10th. Truist Financial lifted their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Wednesday, August 5th. Finally, Melius Research began coverage on Energy Transfer in a research report on Tuesday, September 22nd. They set a “hold” rating and a $25.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.60.

Energy Transfer Stock Performance

Shares of NYSEAMERICAN:ET traded down $0.04 during midday trading on Tuesday, hitting $20.38. The stock had a trading volume of 2,648,964 shares, compared to its average volume of 12,332,003. The company has a market capitalization of $70.16 billion, a PE ratio of 13.86 and a beta of 0.60. The stock has a 50 day moving average price of $20.91 and a two-hundred day moving average price of $20.01. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $21.84.

Energy Transfer (NYSEAMERICAN:ET) last posted its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.21. The business had revenue of $34.33 billion for the quarter, compared to analysts’ expectations of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The business’s revenue for the quarter was up 78.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 EPS. As a group, equities analysts predict that Energy Transfer LP will post 1.73 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Friday, August 7th. This represents a $1.36 dividend on an annualized basis and a yield of 6.7%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.3375. Energy Transfer’s dividend payout ratio (DPR) is 92.52%.

Energy Transfer Profile

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.