Energy Transfer LP $ET Holdings Decreased by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC lowered its stake in Energy Transfer LP (NYSE:ET) by 34.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,185,466 shares of the pipeline company’s stock after selling 625,613 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Energy Transfer were worth $21,493,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Energy Transfer by 1.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company’s stock valued at $723,000 after acquiring an additional 565 shares in the last quarter. Indiana Trust & Investment Management Co boosted its stake in Energy Transfer by 5.1% during the 1st quarter. Indiana Trust & Investment Management Co now owns 11,796 shares of the pipeline company’s stock valued at $219,000 after purchasing an additional 576 shares in the last quarter. Beam Wealth Advisors Inc. increased its position in shares of Energy Transfer by 1.5% during the 1st quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company’s stock valued at $742,000 after purchasing an additional 585 shares during the period. Bogart Wealth LLC raised its stake in shares of Energy Transfer by 1.9% in the 2nd quarter. Bogart Wealth LLC now owns 32,788 shares of the pipeline company’s stock worth $594,000 after buying an additional 604 shares in the last quarter. Finally, MCF Advisors LLC lifted its holdings in shares of Energy Transfer by 7.2% in the second quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company’s stock valued at $167,000 after buying an additional 616 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren acquired 1,000,000 shares of Energy Transfer stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average price of $16.95 per share, with a total value of $16,950,000.00. Following the purchase, the director owned 104,577,803 shares in the company, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $16.81 on Tuesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The business’s 50-day moving average price is $16.79 and its two-hundred day moving average price is $17.37. The company has a market capitalization of $57.70 billion, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 1.01 and a beta of 0.76.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.06). Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm had revenue of $19.95 billion for the quarter, compared to analyst estimates of $21.84 billion. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. Analysts anticipate 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 Wednesday, November 19th. Stockholders of record on Friday, November 7th were paid a dividend of $0.3325 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, November 7th. This represents a $1.33 annualized dividend and a dividend yield of 7.9%. Energy Transfer’s dividend payout ratio (DPR) is currently 106.40%.

Analyst Ratings Changes

ET has been the topic of a number of research analyst reports. Jefferies Financial Group set a $17.00 target price on Energy Transfer and gave the stock a “hold” rating in a report on Tuesday, October 28th. UBS Group reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Energy Transfer in a research note on Wednesday, October 15th. Morgan Stanley cut their target price on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Finally, Scotiabank cut their price objective on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a research report on Thursday, November 13th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.92.

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.