Sfmg LLC Sells 634 Shares of Energy Transfer LP (NYSE:ET)

Sfmg LLC decreased its holdings in shares of Energy Transfer LP (NYSE:ET) by 2.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 30,772 shares of the pipeline company’s stock after selling 634 shares during the period. Sfmg LLC’s holdings in Energy Transfer were worth $499,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Tortoise Capital Advisors L.L.C. grew its stake in shares of Energy Transfer by 12.7% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after acquiring an additional 4,141,715 shares during the last quarter. First Reserve GP XIII Ltd purchased a new stake in Energy Transfer in the fourth quarter valued at approximately $322,097,000. Natixis boosted its position 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 buying an additional 2,999,300 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in Energy Transfer by 6.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 16,785,510 shares of the pipeline company’s stock valued at $231,640,000 after buying an additional 1,085,240 shares during the last quarter. Finally, Chickasaw Capital Management LLC boosted its position in Energy Transfer by 2.9% in the second quarter. Chickasaw Capital Management LLC now owns 14,883,956 shares of the pipeline company’s stock valued at $241,418,000 after buying an additional 425,323 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Insider Transactions at Energy Transfer

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

Energy Transfer Trading Down 0.4 %

Energy Transfer stock opened at $16.21 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. Energy Transfer LP has a 12 month low of $12.90 and a 12 month high of $16.50. The stock’s 50 day simple moving average is $16.05 and its two-hundred day simple moving average is $15.85. The firm has a market cap of $54.63 billion, a PE ratio of 14.87, a P/E/G ratio of 0.46 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share 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 company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. Analysts anticipate that Energy Transfer LP will post 1.4 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 7.90%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s dividend payout ratio is presently 117.43%.

Wall Street Analyst Weigh In

ET has been the topic of a number of recent research reports. Mizuho upped their target price 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 target price 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 target price 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 upped their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $19.14.

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.