Waterloo Capital L.P. Sells 2,585 Shares of Energy Transfer LP (NYSE:ET)

Waterloo Capital L.P. lowered its position in shares of Energy Transfer LP (NYSE:ET) by 5.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,972 shares of the pipeline company’s stock after selling 2,585 shares during the period. Waterloo Capital L.P.’s holdings in Energy Transfer were worth $665,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LRI Investments LLC bought a new stake in Energy Transfer during the 1st quarter worth $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Energy Transfer in the 4th quarter valued at about $34,000. Hudson Edge Investment Partners Inc. bought a new stake in shares of Energy Transfer in the 2nd quarter valued at about $42,000. EdgeRock Capital LLC bought a new stake in shares of Energy Transfer in the 2nd quarter valued at about $42,000. Finally, Adirondack Trust Co. bought a new stake in shares of Energy Transfer in the 4th quarter valued at about $42,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.6 %

Shares of NYSE:ET opened at $16.11 on Thursday. The company has a market capitalization of $54.29 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 0.46 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The business’s 50-day moving average is $16.06 and its 200-day moving average is $15.81. Energy Transfer LP has a 1 year low of $12.90 and a 1 year high of $16.50.

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

Energy Transfer Increases Dividend

The company also recently declared 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 is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a yield of 7.95%. The ex-dividend date was Friday, August 9th. Energy Transfer’s dividend payout ratio is 117.43%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ET shares. Mizuho upped their price target on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Morgan Stanley upped their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. JPMorgan Chase & Co. upped their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Finally, UBS Group boosted their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.14.

Insider Buying and Selling

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

About Energy Transfer

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.