Beacon Pointe Advisors LLC Decreases Stock Holdings in Energy Transfer LP $ET

Beacon Pointe Advisors LLC decreased its holdings in shares of Energy Transfer LP (NYSE:ET) by 34.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,185,466 shares of the pipeline company’s stock after selling 625,613 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Energy Transfer were worth $21,493,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after buying an additional 11,844 shares during the period. US Bancorp DE grew its position in Energy Transfer by 56.7% in the first quarter. US Bancorp DE now owns 772,821 shares of the pipeline company’s stock valued at $14,367,000 after acquiring an additional 279,714 shares in the last quarter. Banco Santander S.A. purchased a new stake in shares of Energy Transfer during the first quarter valued at approximately $1,040,000. Blair William & Co. IL lifted its position in shares of Energy Transfer by 11.0% during the first quarter. Blair William & Co. IL now owns 571,952 shares of the pipeline company’s stock worth $10,633,000 after purchasing an additional 56,660 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Energy Transfer by 3.5% in the first quarter. Commonwealth Equity Services LLC now owns 1,690,838 shares of the pipeline company’s stock valued at $31,433,000 after purchasing an additional 57,442 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Kelcy L. Warren purchased 1,000,000 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the purchase, the director owned 104,577,803 shares of the company’s stock, valued at $1,772,593,760.85. This trade represents a 0.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ET shares. Jefferies Financial Group set a $17.00 price target on shares of Energy Transfer and gave the stock a “hold” rating in a research note on Tuesday, October 28th. Barclays reaffirmed an “overweight” rating and set a $25.00 target price on shares of Energy Transfer in a research report on Wednesday, October 15th. UBS Group reissued a “buy” rating and issued a $22.00 price target on shares of Energy Transfer in a report on Wednesday, October 15th. Wells Fargo & Company restated an “overweight” rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.92.

Energy Transfer Trading Up 0.6%

Shares of NYSE ET opened at $16.81 on Tuesday. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The company has a market cap of $57.70 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 1.01 and a beta of 0.76. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The stock’s 50 day simple moving average is $16.79 and its 200 day simple moving average is $17.37.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.06). Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The company had revenue of $19.95 billion during the quarter, compared to analyst estimates of $21.84 billion. During the same period in the prior year, the business earned $0.32 earnings per share. Energy Transfer’s quarterly revenue was down 3.9% on a year-over-year basis. Equities research analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were paid a dividend of $0.3325 per share. This represents a $1.33 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date of this dividend was Friday, November 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is presently 106.40%.

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.