Madrona Financial Services LLC Sells 1,536 Shares of Energy Transfer LP $ET

Madrona Financial Services LLC reduced its position in Energy Transfer LP (NYSE:ET) by 12.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,274 shares of the pipeline company’s stock after selling 1,536 shares during the quarter. Madrona Financial Services LLC’s holdings in Energy Transfer were worth $204,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Alps Advisors Inc. grew its position in shares of Energy Transfer by 12.9% in the 1st quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company’s stock worth $1,400,831,000 after buying an additional 8,613,645 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in shares of Energy Transfer by 2.6% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 38,205,495 shares of the pipeline company’s stock worth $710,240,000 after acquiring an additional 951,656 shares during the period. Kayne Anderson Capital Advisors LP raised its position in shares of Energy Transfer by 0.8% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company’s stock worth $449,329,000 after acquiring an additional 182,705 shares in the last quarter. Energy Income Partners LLC lifted its stake in shares of Energy Transfer by 12.0% in the 1st quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company’s stock valued at $429,802,000 after purchasing an additional 2,471,401 shares during the period. Finally, Westwood Holdings Group Inc. lifted its stake in shares of Energy Transfer by 2.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,787,080 shares of the pipeline company’s stock valued at $312,072,000 after purchasing an additional 455,860 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Energy Transfer Trading Down 1.0%

Energy Transfer stock opened at $17.00 on Thursday. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The business’s fifty day moving average is $17.51 and its 200 day moving average is $17.57. The stock has a market capitalization of $58.34 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.01 and a beta of 0.78. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $19.24 billion for the quarter, compared to analysts’ expectations of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. On average, sell-side analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were issued a $0.33 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a yield of 7.8%. The ex-dividend date was Friday, August 8th. Energy Transfer’s dividend payout ratio is 102.33%.

Insider Transactions at Energy Transfer

In related news, Director Kelcy L. Warren bought 1,350,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the transaction, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.28% of the company’s stock.

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.