Cambiar Investors LLC Reduces Holdings in Energy Transfer LP $ET

Cambiar Investors LLC cut its stake in shares of Energy Transfer LP (NYSE:ET) by 29.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 267,565 shares of the pipeline company’s stock after selling 109,039 shares during the quarter. Cambiar Investors LLC’s holdings in Energy Transfer were worth $4,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Chelsea Counsel Co. boosted its holdings in Energy Transfer by 370.3% during the 2nd quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company’s stock valued at $1,705,000 after acquiring an additional 74,050 shares during the period. Prevail Innovative Wealth Advisors LLC lifted its holdings in Energy Transfer by 316.9% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company’s stock worth $2,181,000 after buying an additional 89,173 shares during the period. Ariston Services Group lifted its holdings in Energy Transfer by 126.7% in the 2nd quarter. Ariston Services Group now owns 100,683 shares of the pipeline company’s stock worth $1,825,000 after buying an additional 56,274 shares during the period. Highland Capital Management LLC purchased a new stake in Energy Transfer in the 2nd quarter worth approximately $930,000. Finally, Northern Trust Corp lifted its holdings in Energy Transfer by 223.5% in the 1st quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company’s stock worth $19,883,000 after buying an additional 738,885 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Kelcy L. Warren acquired 1,350,000 shares of Energy Transfer stock in a transaction that occurred on Wednesday, August 20th. The stock was bought at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the transaction, the director directly owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This represents a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.28% of the stock is currently owned by company insiders.

Energy Transfer Stock Up 0.4%

Shares of NYSE:ET opened at $16.85 on Friday. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The firm has a market capitalization of $57.82 billion, a P/E ratio of 13.06, a P/E/G ratio of 1.01 and a beta of 0.78. The stock has a 50 day moving average price of $17.13 and a 200-day moving average price of $17.42. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The firm had revenue of $19.24 billion during the quarter, compared to analyst estimates of $24.07 billion. During the same quarter in the prior year, the company earned $0.35 EPS. The business’s revenue was down 7.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Friday, November 7th will be given a dividend of $0.3325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.33 dividend on an annualized basis and a yield of 7.9%. Energy Transfer’s dividend payout ratio is 103.10%.

Analyst Ratings Changes

ET has been the subject of several research analyst reports. Barclays reiterated an “overweight” rating and issued a $25.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. Wells Fargo & Company reiterated an “overweight” rating and issued a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. TD Cowen initiated coverage on Energy Transfer in a report on Monday, July 7th. They issued a “buy” rating and a $22.00 price objective for the company. Jefferies Financial Group set a $17.00 price objective on Energy Transfer and gave the stock a “hold” rating in a report on Tuesday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus price target of $22.23.

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.