TD Waterhouse Canada Inc. Decreases Stake in Energy Transfer LP $ET

TD Waterhouse Canada Inc. cut its holdings in shares of Energy Transfer LP (NYSE:ET) by 77.9% in the 2nd quarter, Holdings Channel reports. The fund owned 15,167 shares of the pipeline company’s stock after selling 53,594 shares during the period. TD Waterhouse Canada Inc.’s holdings in Energy Transfer were worth $270,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Chelsea Counsel Co. grew its position in shares of 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 buying an additional 74,050 shares in the last quarter. Ariston Services Group boosted its stake in Energy Transfer by 126.7% during the 2nd quarter. Ariston Services Group now owns 100,683 shares of the pipeline company’s stock valued at $1,825,000 after acquiring an additional 56,274 shares during the last quarter. Highland Capital Management LLC acquired a new position in Energy Transfer during the 2nd quarter worth $930,000. Focus Partners Wealth increased its position in shares of Energy Transfer by 11.9% in the 1st quarter. Focus Partners Wealth now owns 275,698 shares of the pipeline company’s stock worth $5,125,000 after purchasing an additional 29,404 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Energy Transfer by 223.5% in the 1st quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company’s stock valued at $19,883,000 after purchasing an additional 738,885 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Wells Fargo & Company reiterated an “overweight” rating and issued a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Barclays reiterated an “overweight” rating and issued a $25.00 target price on shares of Energy Transfer in a research report on Wednesday, October 15th. Jefferies Financial Group set a $17.00 price objective on Energy Transfer and gave the stock a “hold” rating in a research note on Tuesday, October 28th. Finally, UBS Group reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $21.92.

Energy Transfer Stock Down 0.1%

Shares of Energy Transfer stock opened at $16.50 on Tuesday. The stock has a market capitalization of $56.65 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.01 and a beta of 0.76. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The business’s 50 day simple moving average is $16.87 and its 200-day simple moving average is $17.41.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm had revenue of $19.95 billion for the quarter, compared to analyst estimates of $21.84 billion. During the same period in the previous year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were issued a $0.3325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.33 dividend on an annualized basis and a yield of 8.1%. Energy Transfer’s dividend payout ratio is currently 106.40%.

Insider Buying and Selling

In other Energy Transfer news, Director Kelcy L. Warren bought 1,000,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were purchased at an average price of $16.95 per share, with a total value of $16,950,000.00. Following the purchase, the director directly owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. The trade was a 0.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 3.28% of the stock is currently owned by corporate insiders.

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.