Flagship Harbor Advisors LLC Has $773,000 Stock Holdings in Energy Transfer LP (NYSE:ET)

Flagship Harbor Advisors LLC raised its holdings in Energy Transfer LP (NYSE:ETFree Report) by 14.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 41,602 shares of the pipeline company’s stock after acquiring an additional 5,221 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Energy Transfer were worth $773,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC increased its position in Energy Transfer by 15.7% in the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock valued at $756,840,000 after acquiring an additional 5,254,721 shares during the period. Kayne Anderson Capital Advisors LP increased its position in Energy Transfer by 7.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock valued at $469,920,000 after acquiring an additional 1,723,683 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Energy Transfer by 5.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company’s stock valued at $387,416,000 after acquiring an additional 1,093,381 shares during the period. Westwood Holdings Group Inc. boosted its stake in shares of Energy Transfer by 18.2% in the 4th quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company’s stock valued at $319,929,000 after purchasing an additional 2,512,060 shares during the last quarter. Finally, Natixis boosted its stake in shares of Energy Transfer by 7.1% in the 4th quarter. Natixis now owns 14,619,124 shares of the pipeline company’s stock valued at $286,389,000 after purchasing an additional 962,800 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director James Richard Perry sold 1,369 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the sale, the director now owns 24,523 shares of the company’s stock, valued at approximately $453,185.04. This represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.28% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ET shares. JPMorgan Chase & Co. reduced their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Wells Fargo & Company reduced their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Morgan Stanley upped their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Finally, Mizuho upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, May 20th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target of $22.64.

Get Our Latest Analysis on ET

Energy Transfer Stock Up 0.3%

ET opened at $17.69 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. The company’s 50-day moving average is $17.53 and its 200 day moving average is $18.52. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The firm has a market capitalization of $60.69 billion, a P/E ratio of 13.40, a PEG ratio of 0.57 and a beta of 0.78.

Energy Transfer (NYSE:ETGet Free Report) last released its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. The company had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share. Research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were given a $0.3275 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.31 annualized dividend and a dividend yield of 7.41%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is 99.24%.

About Energy Transfer

(Free Report)

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.

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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