Mayflower Financial Advisors LLC Has $267,000 Position in Energy Transfer LP (NYSE:ET)

Mayflower Financial Advisors LLC lessened its position in Energy Transfer LP (NYSE:ET) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,436 shares of the pipeline company’s stock after selling 1,000 shares during the period. Mayflower Financial Advisors LLC’s holdings in Energy Transfer were worth $267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. First Reserve GP XIII Ltd bought a new stake in shares of Energy Transfer in the 4th quarter valued at about $322,097,000. Clearbridge Investments LLC boosted its position in shares of Energy Transfer by 18.5% during the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after purchasing an additional 3,976,676 shares in the last quarter. UBS Group AG boosted its position in shares of Energy Transfer by 13.3% during the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock valued at $395,270,000 after purchasing an additional 3,368,427 shares in the last quarter. Natixis boosted its position in shares of Energy Transfer by 20.0% during the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after purchasing an additional 2,999,300 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of Energy Transfer by 117.3% during the 4th quarter. Allianz Asset Management GmbH now owns 3,867,998 shares of the pipeline company’s stock valued at $53,378,000 after purchasing an additional 2,088,356 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Activity at Energy Transfer

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

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $16.04 on Friday. The company has a market cap of $54.04 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 0.47 and a beta of 1.66. Energy Transfer LP has a 52 week low of $12.90 and a 52 week high of $16.50. The business has a 50 day moving average price of $16.11 and a 200-day moving average price of $15.72. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $20.73 billion during 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 business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. Equities analysts anticipate that Energy Transfer LP will post 1.4 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.98%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ET shares. UBS Group upped their target price on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Stifel Nicolaus upped their target price on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. upped their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Morgan Stanley upped their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Finally, Mizuho upped their target price on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $19.29.

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.