US Bancorp DE reduced its position in Energy Transfer LP (NYSE:ET – Get Rating) by 16.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,983 shares of the pipeline company’s stock after selling 28,666 shares during the period. US Bancorp DE’s holdings in Energy Transfer were worth $1,577,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in Energy Transfer by 4.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 159,588 shares of the pipeline company’s stock valued at $1,313,000 after buying an additional 7,272 shares during the last quarter. UMB Bank N A MO purchased a new stake in Energy Transfer in the 4th quarter valued at $101,000. Securian Asset Management Inc. raised its position in Energy Transfer by 5.1% in the 4th quarter. Securian Asset Management Inc. now owns 566,946 shares of the pipeline company’s stock valued at $4,666,000 after buying an additional 27,600 shares during the last quarter. HighTower Advisors LLC raised its position in Energy Transfer by 2.9% in the 4th quarter. HighTower Advisors LLC now owns 3,286,871 shares of the pipeline company’s stock valued at $27,037,000 after buying an additional 93,600 shares during the last quarter. Finally, B. Riley Wealth Management Inc. raised its position in Energy Transfer by 1.7% in the 4th quarter. B. Riley Wealth Management Inc. now owns 390,982 shares of the pipeline company’s stock valued at $3,218,000 after buying an additional 6,357 shares during the last quarter. 38.80% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, Director Richard D. Brannon acquired 26,027 shares of the firm’s stock in a transaction that occurred on Thursday, July 14th. The stock was bought at an average price of $9.47 per share, with a total value of $246,475.69. Following the acquisition, the director now owns 388,347 shares in the company, valued at approximately $3,677,646.09. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Richard D. Brannon bought 26,027 shares of the business’s stock in a transaction on Thursday, July 14th. The stock was acquired at an average price of $9.47 per share, for a total transaction of $246,475.69. Following the purchase, the director now directly owns 388,347 shares in the company, valued at $3,677,646.09. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Kelcy L. Warren bought 1,591,092 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was bought at an average price of $10.94 per share, with a total value of $17,406,546.48. Following the purchase, the chairman now owns 49,578,477 shares in the company, valued at $542,388,538.38. The disclosure for this purchase can be found here. 3.28% of the stock is currently owned by insiders.
Energy Transfer Trading Up 0.2 %
Energy Transfer (NYSE:ET – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The pipeline company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. Energy Transfer had a return on equity of 11.98% and a net margin of 4.83%. The company had revenue of $25.95 billion during the quarter, compared to analyst estimates of $21.88 billion. Equities research analysts anticipate that Energy Transfer LP will post 1.38 EPS for the current year.
Energy Transfer Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Monday, August 8th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 7.83%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.20. Energy Transfer’s dividend payout ratio (DPR) is 73.60%.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. US Capital Advisors reissued a “buy” rating on shares of Energy Transfer in a research report on Wednesday, June 1st. Barclays increased their price target on Energy Transfer from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, August 16th. Finally, Royal Bank of Canada increased their price target on Energy Transfer from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, August 18th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $14.63.
Energy Transfer Company Profile
Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.
- Get a free copy of the StockNews.com research report on Energy Transfer (ET)
- Could Snap Stock Rebound As Management Restructures?
- MarketBeat: Week in Review 8/29 – 9/2
- Hormel Looks Cheap At These Levels
- Lululemon Set To Soar Into September
- Could Nike Stock be Oversold, but Still Overvalued?
Receive News & Ratings for Energy Transfer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Transfer and related companies with MarketBeat.com's FREE daily email newsletter.