Brookfield Corp ON Has $160.76 Million Stake in Energy Transfer LP (NYSE:ET)

Brookfield Corp ON decreased its position in Energy Transfer LP (NYSE:ET) by 4.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 12,891,655 shares of the pipeline company’s stock after selling 573,994 shares during the period. Energy Transfer comprises about 0.6% of Brookfield Corp ON’s investment portfolio, making the stock its 22nd biggest holding. Brookfield Corp ON owned 0.41% of Energy Transfer worth $160,759,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tucker Asset Management LLC acquired a new position in Energy Transfer in the 1st quarter worth approximately $25,000. VitalStone Financial LLC boosted its stake in Energy Transfer by 100.0% in the 1st quarter. VitalStone Financial LLC now owns 3,000 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 1,500 shares during the period. Motco acquired a new stake in shares of Energy Transfer during the 4th quarter valued at $30,000. Sandy Spring Bank acquired a new stake in shares of Energy Transfer during the 1st quarter valued at $30,000. Finally, Kozak & Associates Inc. acquired a new stake in shares of Energy Transfer during the 1st quarter valued at $34,000. Institutional investors and hedge funds own 33.79% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Kelcy L. Warren bought 750,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average price of $12.93 per share, for a total transaction of $9,697,500.00. Following the acquisition, the chairman now directly owns 62,328,477 shares of the company’s stock, valued at approximately $805,907,207.61. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Bradford D. Whitehurst acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were bought at an average price of $13.00 per share, for a total transaction of $130,000.00. Following the acquisition, the executive vice president now owns 1,313,055 shares in the company, valued at approximately $17,069,715. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Kelcy L. Warren acquired 750,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were bought at an average price of $12.93 per share, for a total transaction of $9,697,500.00. Following the acquisition, the chairman now owns 62,328,477 shares in the company, valued at approximately $805,907,207.61. The disclosure for this purchase can be found here. Insiders have bought 2,010,000 shares of company stock worth $26,149,000 in the last quarter. 3.28% of the stock is currently owned by company insiders.

Energy Transfer Stock Down 1.2 %

ET stock opened at $13.60 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.64 and a debt-to-equity ratio of 1.28. Energy Transfer LP has a 1 year low of $10.02 and a 1 year high of $13.87. The company has a fifty day simple moving average of $13.12 and a 200 day simple moving average of $12.78. The firm has a market cap of $42.75 billion, a PE ratio of 11.33 and a beta of 1.70.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, August 2nd. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.05). The firm had revenue of $18.32 billion during the quarter, compared to the consensus estimate of $20.40 billion. Energy Transfer had a return on equity of 11.85% and a net margin of 5.05%. The business’s revenue was down 29.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.39 EPS. Sell-side analysts anticipate that Energy Transfer LP will post 1.21 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 14th were issued a $0.31 dividend. The ex-dividend date was Friday, August 11th. This represents a $1.24 annualized dividend and a yield of 9.12%. Energy Transfer’s dividend payout ratio (DPR) is presently 103.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ET. Morgan Stanley reissued an “overweight” rating and set a $17.00 target price on shares of Energy Transfer in a research note on Thursday, July 20th. Mizuho lifted their target price on shares of Energy Transfer from $17.00 to $18.00 in a research note on Tuesday, July 18th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Energy Transfer presently has an average rating of “Buy” and an average price target of $16.67.

Energy Transfer 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 19,945 miles of interstate natural gas pipeline.