CMG Global Holdings LLC Sells 870 Shares of Energy Transfer LP (NYSE:ET)

CMG Global Holdings LLC lowered its position in Energy Transfer LP (NYSE:ET) by 6.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,154 shares of the pipeline company’s stock after selling 870 shares during the period. CMG Global Holdings LLC’s holdings in Energy Transfer were worth $213,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ET. Tortoise Capital Advisors L.L.C. raised its stake in Energy Transfer by 12.7% in the second 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 buying an additional 4,141,715 shares during the last quarter. First Reserve GP XIII Ltd purchased a new position in shares of Energy Transfer in the 4th quarter valued at approximately $322,097,000. Natixis raised its position in shares of Energy Transfer by 20.0% in the 1st 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 during the last quarter. Westwood Holdings Group Inc. boosted its stake in Energy Transfer by 6.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 16,785,510 shares of the pipeline company’s stock worth $231,640,000 after purchasing an additional 1,085,240 shares in the last quarter. Finally, Chickasaw Capital Management LLC grew its position in Energy Transfer by 2.9% during the 2nd quarter. Chickasaw Capital Management LLC now owns 14,883,956 shares of the pipeline company’s stock worth $241,418,000 after purchasing an additional 425,323 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

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

Energy Transfer Stock Performance

Shares of ET stock opened at $16.07 on Monday. The stock has a market cap of $54.16 billion, a PE ratio of 14.74, 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 $16.50. The business has a 50-day simple moving average of $16.04 and a 200-day simple moving average of $15.87. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last released 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 company had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 EPS. On average, equities analysts expect that Energy Transfer LP will post 1.35 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were issued a $0.32 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a yield of 7.97%. Energy Transfer’s payout ratio is presently 117.43%.

Insiders Place Their Bets

In other news, CEO Thomas E. Long bought 20,000 shares of the stock in a transaction dated Monday, August 12th. 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 chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Energy Transfer news, CEO Thomas E. Long bought 20,000 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 $313,600.00. Following the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Kelcy L. Warren bought 3,000,000 shares of the firm’s 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 transaction, the director now directly owns 123,385,650 shares in the company, valued at $1,934,686,992. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 3,040,000 shares of company stock worth $47,667,200. Company insiders own 3.28% of the company’s stock.

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.