HTLF Bank Cuts Stock Holdings in Energy Transfer LP (NYSE:ET)

HTLF Bank reduced its stake in Energy Transfer LP (NYSE:ET) by 5.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,415 shares of the pipeline company’s stock after selling 1,000 shares during the quarter. HTLF Bank’s holdings in Energy Transfer were worth $280,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ET. Berkley W R Corp boosted its stake in shares of Energy Transfer by 11.6% in the 1st quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock worth $83,912,000 after buying an additional 555,445 shares during the last quarter. NBC Securities Inc. lifted its holdings in Energy Transfer by 4.3% during the first quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock worth $886,000 after acquiring an additional 2,326 shares during the period. Cetera Investment Advisers boosted its position in Energy Transfer by 491.3% in the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock worth $20,297,000 after purchasing an additional 1,072,144 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Energy Transfer by 2.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 549,971 shares of the pipeline company’s stock valued at $8,651,000 after purchasing an additional 15,097 shares during the period. Finally, Chickasaw Capital Management LLC increased its position in shares of Energy Transfer by 3.1% during the 3rd quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock valued at $246,376,000 after purchasing an additional 466,565 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Mizuho boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Finally, UBS Group raised their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $20.00.

Energy Transfer Price Performance

NYSE ET opened at $16.37 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The company has a market cap of $55.17 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a 52 week low of $12.90 and a 52 week high of $16.64. The firm’s 50-day simple moving average is $16.07 and its two-hundred day simple moving average is $15.93.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. Research analysts predict that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a $0.32 dividend. The ex-dividend date was Friday, August 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a dividend yield of 7.82%. Energy Transfer’s payout ratio is 117.43%.

Insider Activity

In related news, Director Kelcy L. Warren bought 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares in the company, valued at $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 3,040,000 shares of company stock worth $47,667,200. 3.28% of the stock is owned by corporate insiders.

Energy Transfer 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.