Energy Transfer LP (NYSE:ET) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. decreased its holdings in shares of Energy Transfer LP (NYSE:ET) by 6.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 70,603 shares of the pipeline company’s stock after selling 4,491 shares during the quarter. Linscomb Wealth Inc.’s holdings in Energy Transfer were worth $1,145,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Rehmann Capital Advisory Group grew its stake in shares of Energy Transfer by 2.0% in the first quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock valued at $505,000 after buying an additional 633 shares in the last quarter. Veracity Capital LLC grew its stake in shares of Energy Transfer by 2.0% in the second quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock valued at $545,000 after buying an additional 659 shares in the last quarter. Sfmg LLC grew its stake in shares of Energy Transfer by 2.2% in the first quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock valued at $494,000 after buying an additional 674 shares in the last quarter. Morton Capital Management LLC CA grew its stake in shares of Energy Transfer by 1.6% in the second quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock valued at $720,000 after buying an additional 699 shares in the last quarter. Finally, FinTrust Capital Advisors LLC boosted its holdings in Energy Transfer by 3.6% in the first quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock valued at $318,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ET. JPMorgan Chase & Co. lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Morgan Stanley lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. UBS Group lifted their target price on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Finally, Mizuho lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

Insider Buying and Selling

In other news, EVP Gregory G. Mcilwain acquired 20,000 shares of Energy Transfer stock in a transaction on Friday, August 23rd. The stock was bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. The disclosure for this purchase can be found here. Insiders have bought 3,040,000 shares of company stock worth $47,667,200 in the last quarter. 3.28% of the stock is owned by insiders.

Energy Transfer Stock Up 0.1 %

Shares of NYSE ET opened at $15.84 on Thursday. The company has a market capitalization of $54.21 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 0.47 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The business has a 50-day moving average of $16.07 and a two-hundred day moving average of $15.76. Energy Transfer LP has a 1 year low of $12.90 and a 1 year high of $16.50.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The business had revenue of $20.73 billion for 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 firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share. On average, analysts forecast that Energy Transfer LP will post 1.4 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a $0.32 dividend. The ex-dividend date was Friday, August 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a dividend yield of 8.08%. Energy Transfer’s dividend payout ratio is 117.43%.

About Energy Transfer

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.