Fort Sheridan Advisors LLC boosted its holdings in Energy Transfer LP (NYSE:ET – Get Rating) by 9.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,910 shares of the pipeline company’s stock after purchasing an additional 7,137 shares during the quarter. Fort Sheridan Advisors LLC’s holdings in Energy Transfer were worth $961,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Lake Street Financial LLC boosted its holdings in Energy Transfer by 12.9% in the first quarter. Lake Street Financial LLC now owns 147,094 shares of the pipeline company’s stock worth $1,646,000 after purchasing an additional 16,767 shares during the period. Ascension Capital Advisors Inc. acquired a new position in Energy Transfer in the first quarter worth $146,000. Lincoln National Corp boosted its holdings in Energy Transfer by 32.9% in the first quarter. Lincoln National Corp now owns 69,252 shares of the pipeline company’s stock worth $775,000 after purchasing an additional 17,144 shares during the period. Brown Advisory Inc. lifted its stake in Energy Transfer by 4.6% in the first quarter. Brown Advisory Inc. now owns 68,175 shares of the pipeline company’s stock valued at $763,000 after buying an additional 3,000 shares during the last quarter. Finally, Brown Advisory Securities LLC lifted its stake in Energy Transfer by 44.5% in the first quarter. Brown Advisory Securities LLC now owns 56,538 shares of the pipeline company’s stock valued at $631,000 after buying an additional 17,400 shares during the last quarter. Institutional investors and hedge funds own 48.40% of the company’s stock.
Insider Buying and Selling
In other news, Director Richard D. Brannon purchased 26,027 shares of Energy Transfer stock in a transaction dated Thursday, July 14th. The stock was acquired at an average cost of $9.47 per share, for a total transaction of $246,475.69. Following the acquisition, the director now directly owns 388,347 shares in the company, valued at $3,677,646.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.28% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Energy Transfer Price Performance
Shares of Energy Transfer stock opened at $10.82 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.00 and a debt-to-equity ratio of 1.43. The company’s 50-day moving average price is $10.65 and its two-hundred day moving average price is $10.63. Energy Transfer LP has a 52 week low of $7.96 and a 52 week high of $12.48. The stock has a market cap of $33.39 billion, a PE ratio of 8.66 and a beta of 1.90.
Energy Transfer (NYSE:ET – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The pipeline company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. Energy Transfer had a net margin of 4.83% and a return on equity of 12.19%. The firm had revenue of $20.49 billion for the quarter, compared to analysts’ expectations of $18.79 billion. During the same period in the previous year, the business earned $1.14 earnings per share. Energy Transfer’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.32 EPS for the current fiscal year.
Energy Transfer Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, August 8th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 8.50%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.20. Energy Transfer’s dividend payout ratio (DPR) is currently 64.00%.
About Energy Transfer
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.
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