Energy Transfer LP $ET Stock Holdings Decreased by Castleark Management LLC

Castleark Management LLC lessened its stake in Energy Transfer LP (NYSE:ET) by 22.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 238,240 shares of the pipeline company’s stock after selling 68,560 shares during the quarter. Castleark Management LLC’s holdings in Energy Transfer were worth $4,319,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ET. Second Line Capital LLC raised its stake in Energy Transfer by 3.9% during the second quarter. Second Line Capital LLC now owns 26,237 shares of the pipeline company’s stock valued at $476,000 after buying an additional 992 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Energy Transfer by 0.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 899,176 shares of the pipeline company’s stock valued at $16,302,000 after acquiring an additional 2,621 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Energy Transfer during the 2nd quarter valued at approximately $70,000. Asset Allocation Strategies LLC lifted its stake in Energy Transfer by 17.8% during the second quarter. Asset Allocation Strategies LLC now owns 41,204 shares of the pipeline company’s stock worth $747,000 after purchasing an additional 6,224 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its stake in Energy Transfer by 223.7% during the second quarter. Corient Private Wealth LLC now owns 1,690,769 shares of the pipeline company’s stock worth $30,654,000 after purchasing an additional 1,168,438 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ET shares. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. Barclays reiterated an “overweight” rating and set a $25.00 price objective on shares of Energy Transfer in a research note on Wednesday, October 15th. UBS Group reaffirmed a “buy” rating and set a $22.00 target price on shares of Energy Transfer in a report on Wednesday, October 15th. Jefferies Financial Group set a $17.00 price target on Energy Transfer and gave the stock a “hold” rating in a report on Tuesday, October 28th. Finally, Scotiabank reduced their price objective on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a research report on Thursday, November 13th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.62.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $16.56 on Monday. The firm’s 50 day moving average is $16.69 and its two-hundred day moving average is $17.29. The firm has a market capitalization of $56.86 billion, a P/E ratio of 13.25, a PEG ratio of 1.00 and a beta of 0.65. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The business had revenue of $19.95 billion during the quarter, compared to the consensus estimate of $21.84 billion. Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. Analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were paid a dividend of $0.3325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date was Friday, November 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 106.40%.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren acquired 1,000,000 shares of Energy Transfer stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average price of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the acquisition, the director directly 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.28% of the stock is currently owned by corporate insiders.

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.