Energy Transfer LP $ET Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB lowered its stake in Energy Transfer LP (NYSE:ET) by 19.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,502 shares of the pipeline company’s stock after selling 61,240 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Energy Transfer were worth $4,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in ET. Kingstone Capital Partners Texas LLC purchased a new position in Energy Transfer in the second quarter worth approximately $168,917,000. Northside Capital Management LLC acquired a new stake in shares of Energy Transfer in the 2nd quarter valued at $34,231,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Energy Transfer by 9.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,353,476 shares of the pipeline company’s stock worth $387,139,000 after purchasing an additional 1,825,391 shares in the last quarter. Jump Financial LLC increased its holdings in Energy Transfer by 2,687.9% in the second quarter. Jump Financial LLC now owns 1,791,358 shares of the pipeline company’s stock valued at $32,477,000 after buying an additional 1,727,104 shares during the last quarter. Finally, Corient Private Wealth LLC increased its holdings in Energy Transfer by 223.7% in the second quarter. Corient Private Wealth LLC now owns 1,690,771 shares of the pipeline company’s stock valued at $30,654,000 after buying an additional 1,168,440 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Down 0.7%

ET opened at $17.33 on Friday. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The business has a 50 day moving average price of $16.64 and a two-hundred day moving average price of $17.07. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 1.50. The company has a market cap of $59.50 billion, a PE ratio of 13.86, a P/E/G ratio of 0.91 and a beta of 0.66.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.06). Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The company had revenue of $19.95 billion for the quarter, compared to analysts’ expectations of $21.84 billion. During the same quarter last year, the company earned $0.32 EPS. Energy Transfer’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Friday, November 7th were paid a dividend of $0.3325 per share. This represents a $1.33 dividend on an annualized basis and a dividend yield of 7.7%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, November 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 106.40%.

Insider Buying and Selling

In other news, Director Kelcy L. Warren acquired 1,000,000 shares of Energy Transfer stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the transaction, the director directly owned 104,577,803 shares in the company, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.28% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ET shares. Jefferies Financial Group set a $17.00 price objective on Energy Transfer and gave the stock a “hold” rating in a research report on Tuesday, October 28th. Barclays reaffirmed an “overweight” rating and issued a $22.00 price target (down from $25.00) on shares of Energy Transfer in a report on Monday. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Wednesday, January 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. Finally, Royal Bank Of Canada upgraded shares of Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Energy Transfer Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.