Energy Transfer LP (NYSE:ET) Holdings Decreased by ORG Partners LLC

ORG Partners LLC reduced its holdings in Energy Transfer LP (NYSE:ET) by 92.1% in the 3rd quarter, Holdings Channel reports. The fund owned 28,625 shares of the pipeline company’s stock after selling 333,383 shares during the period. ORG Partners LLC’s holdings in Energy Transfer were worth $459,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. grew its holdings in shares of Energy Transfer by 12.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after acquiring an additional 4,141,715 shares in the last quarter. Natixis grew its stake in Energy Transfer by 20.0% in the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after purchasing an additional 2,999,300 shares in the last quarter. Payden & Rygel Investment Group acquired a new position in Energy Transfer in the 1st quarter worth about $20,164,000. Merewether Investment Management LP raised its stake in shares of Energy Transfer by 22.3% during the 2nd quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock worth $106,919,000 after purchasing an additional 1,200,501 shares in the last quarter. Finally, Progeny 3 Inc. lifted its holdings in shares of Energy Transfer by 104.6% during the 1st quarter. Progeny 3 Inc. now owns 2,205,785 shares of the pipeline company’s stock valued at $34,697,000 after buying an additional 1,127,500 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ET has been the topic of several recent research reports. Mizuho raised their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Finally, UBS Group upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Energy Transfer currently has a consensus rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $16.55 on Tuesday. Energy Transfer LP has a 1-year low of $12.90 and a 1-year high of $16.64. The firm has a fifty day simple moving average of $16.07 and a 200-day simple moving average of $15.93. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $55.77 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The firm had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. On average, sell-side analysts expect that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a $0.32 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.73%. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s payout ratio is currently 117.43%.

Insider Transactions at Energy Transfer

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