Herold Advisors Inc. Reduces Stock Holdings in Energy Transfer LP (NYSE:ET)

Herold Advisors Inc. lowered its position in shares of Energy Transfer LP (NYSE:ETGet Rating) by 48.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,200 shares of the pipeline company’s stock after selling 9,500 shares during the quarter. Herold Advisors Inc.’s holdings in Energy Transfer were worth $101,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Truist Financial Corp lifted its position in Energy Transfer by 7.4% during the first quarter. Truist Financial Corp now owns 799,181 shares of the pipeline company’s stock valued at $8,944,000 after buying an additional 54,910 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Energy Transfer by 40.6% during the first quarter. Fisher Asset Management LLC now owns 37,850 shares of the pipeline company’s stock valued at $424,000 after acquiring an additional 10,936 shares in the last quarter. Wealth Alliance increased its holdings in shares of Energy Transfer by 58.7% during the first quarter. Wealth Alliance now owns 50,825 shares of the pipeline company’s stock valued at $569,000 after acquiring an additional 18,798 shares in the last quarter. Sfmg LLC increased its holdings in shares of Energy Transfer by 18.1% during the first quarter. Sfmg LLC now owns 22,154 shares of the pipeline company’s stock valued at $248,000 after acquiring an additional 3,395 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Energy Transfer by 23.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 144,629 shares of the pipeline company’s stock valued at $1,619,000 after acquiring an additional 27,215 shares in the last quarter. Hedge funds and other institutional investors own 38.80% of the company’s stock.

Insiders Place Their Bets

In other news, Director Richard D. Brannon bought 26,027 shares of the company’s stock in a transaction on Thursday, July 14th. The shares were acquired at an average cost of $9.47 per share, with a total value of $246,475.69. Following the completion of the transaction, the director now owns 388,347 shares of the company’s stock, valued at approximately $3,677,646.09. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Richard D. Brannon bought 26,027 shares of the company’s stock in a transaction on Thursday, July 14th. The shares were acquired at an average cost of $9.47 per share, with a total value of $246,475.69. Following the completion of the transaction, the director now owns 388,347 shares of the company’s stock, valued at approximately $3,677,646.09. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Kelcy L. Warren acquired 1,591,092 shares of the stock in a transaction dated Tuesday, August 9th. The shares were bought at an average cost of $10.94 per share, for a total transaction of $17,406,546.48. Following the completion of the transaction, 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. Over the last three months, insiders have bought 4,045,866 shares of company stock valued at $46,895,136. Insiders own 3.28% of the company’s stock.

Energy Transfer Stock Performance

NYSE ET traded down $0.78 during trading hours on Friday, hitting $10.54. The company’s stock had a trading volume of 59,956,035 shares, compared to its average volume of 21,555,754. Energy Transfer LP has a 12 month low of $7.96 and a 12 month high of $12.49. The company’s 50 day simple moving average is $11.44 and its two-hundred day simple moving average is $11.06. The company has a market cap of $32.54 billion, a P/E ratio of 8.51 and a beta of 1.85. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.15 and a quick ratio of 0.98.

Energy Transfer (NYSE:ETGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The pipeline company reported $0.39 EPS 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 the consensus estimate of $21.88 billion. As a group, sell-side analysts expect that Energy Transfer LP will post 1.38 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 8.73%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, August 5th. Energy Transfer’s dividend payout ratio (DPR) is presently 73.60%.

Analyst Upgrades and Downgrades

ET has been the subject of several analyst reports. Barclays raised their price target on Energy Transfer from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, August 16th. US Capital Advisors restated a “buy” rating on shares of Energy Transfer in a report on Wednesday, June 1st. Finally, Royal Bank of Canada raised their price target on Energy Transfer from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, August 18th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $14.67.

Energy Transfer Profile

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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