Energy Transfer LP $ET Position Reduced by Baldwin Wealth Partners LLC MA

Baldwin Wealth Partners LLC MA decreased its position in shares of Energy Transfer LP (NYSE:ET) by 1.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 266,003 shares of the pipeline company’s stock after selling 2,750 shares during the quarter. Baldwin Wealth Partners LLC MA’s holdings in Energy Transfer were worth $4,823,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chelsea Counsel Co. raised its holdings in Energy Transfer by 370.3% during the second quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company’s stock worth $1,705,000 after purchasing an additional 74,050 shares in the last quarter. Prevail Innovative Wealth Advisors LLC increased its holdings in shares of Energy Transfer by 316.9% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company’s stock valued at $2,181,000 after buying an additional 89,173 shares in the last quarter. Highland Capital Management LLC acquired a new stake in shares of Energy Transfer during the 2nd quarter valued at $930,000. Northern Trust Corp boosted its stake in shares of Energy Transfer by 223.5% during the 1st quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company’s stock worth $19,883,000 after acquiring an additional 738,885 shares in the last quarter. Finally, Appaloosa LP boosted its stake in shares of Energy Transfer by 0.9% during the 1st quarter. Appaloosa LP now owns 4,957,235 shares of the pipeline company’s stock worth $92,155,000 after acquiring an additional 42,500 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 0.3%

NYSE ET opened at $16.62 on Friday. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. The stock has a market cap of $57.05 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.98 and a beta of 0.78. The firm’s 50 day moving average price is $17.37 and its two-hundred day moving average price is $17.49.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm had revenue of $19.24 billion for the quarter, compared to analysts’ expectations of $24.07 billion. During the same period in the previous year, the company posted $0.35 EPS. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. Equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were issued a dividend of $0.33 per share. The ex-dividend date was Friday, August 8th. This represents a $1.32 annualized dividend and a dividend yield of 7.9%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is presently 102.33%.

Insider Activity at Energy Transfer

In related news, Director Kelcy L. Warren purchased 1,350,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the acquisition, the director directly owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.28% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley reduced their price objective on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Wells Fargo & Company reissued an “overweight” rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Cowen assumed coverage on Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating for the company. TD Cowen assumed coverage on Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating and a $22.00 price objective for the company. Finally, Scotiabank started coverage on Energy Transfer in a research note on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price objective for the company. Fourteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

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.