Energy Transfer LP (NYSE:ET) Stock Holdings Reduced by FineMark National Bank & Trust

FineMark National Bank & Trust lowered its position in Energy Transfer LP (NYSE:ET) by 10.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,503 shares of the pipeline company’s stock after selling 4,500 shares during the quarter. FineMark National Bank & Trust’s holdings in Energy Transfer were worth $608,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ET. Northwest Financial Advisors bought a new stake in shares of Energy Transfer during the 4th quarter worth about $25,000. LRI Investments LLC bought a new stake in shares of Energy Transfer during the 1st quarter worth about $29,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Energy Transfer during the 4th quarter worth about $33,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Energy Transfer during the 4th quarter worth about $34,000. Finally, Adirondack Trust Co. bought a new stake in shares of Energy Transfer during the 4th quarter worth about $42,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.7 %

NYSE:ET opened at $16.04 on Friday. The firm has a market capitalization of $54.04 billion, a P/E ratio of 14.71, a P/E/G ratio of 0.47 and a beta of 1.66. Energy Transfer LP has a 12-month low of $12.90 and a 12-month high of $16.50. 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 stock’s fifty day simple moving average is $16.11 and its 200-day simple moving average is $15.72.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS. Equities research analysts expect that Energy Transfer LP will post 1.4 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 7.98%. The ex-dividend date was Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ET shares. Mizuho upped their price target on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. UBS Group increased their target price on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. increased their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Stifel Nicolaus upped their price target on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Morgan Stanley upped their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

Insider Buying and Selling

In other Energy Transfer news, CEO Thomas E. Long acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the purchase, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Thomas E. Long purchased 20,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is owned by company 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.