HighTower Advisors LLC Has $52.65 Million Holdings in Energy Transfer LP $ET

HighTower Advisors LLC cut its holdings in shares of Energy Transfer LP (NYSE:ETFree Report) by 2.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,753,786 shares of the pipeline company’s stock after selling 64,446 shares during the period. HighTower Advisors LLC’s holdings in Energy Transfer were worth $52,652,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Morgan Stanley raised its stake in Energy Transfer by 41.6% in the 4th quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock valued at $1,423,256,000 after acquiring an additional 25,366,594 shares during the period. Alps Advisors Inc. grew its position in shares of Energy Transfer by 8.0% during the 4th quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock worth $1,382,573,000 after purchasing an additional 6,192,066 shares in the last quarter. Mizuho Markets Americas LLC bought a new position in Energy Transfer during the 1st quarter worth $61,760,000. Invesco Ltd. raised its stake in Energy Transfer by 3.2% in the third quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock valued at $992,923,000 after purchasing an additional 1,773,042 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Energy Transfer by 5.7% in the first quarter. Bank of America Corp DE now owns 30,956,358 shares of the pipeline company’s stock valued at $597,458,000 after acquiring an additional 1,656,609 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Energy Transfer

In other news, Director James Richard Perry bought 12,359 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were purchased at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the acquisition, the director owned 208,046 shares of the company’s stock, valued at approximately $4,208,770.58. This trade represents a 6.32% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.28% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on ET. Zacks Research lowered shares of Energy Transfer from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Wall Street Zen raised shares of Energy Transfer from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Citigroup reaffirmed a “buy” rating and set a $24.00 target price (up from $23.00) on shares of Energy Transfer in a research report on Friday, August 7th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.92.

View Our Latest Stock Report on Energy Transfer

Key Stories Impacting Energy Transfer

Here are the key news stories impacting Energy Transfer this week:

Energy Transfer Price Performance

NYSE ET opened at $21.02 on Friday. The firm’s 50-day simple moving average is $19.76 and its two-hundred day simple moving average is $19.32. The company has a market cap of $72.39 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 2.00 and a beta of 0.55. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $21.11. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45.

Energy Transfer (NYSE:ETGet Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.21. The firm had revenue of $34.33 billion for the quarter, compared to the consensus estimate of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The company’s revenue for the quarter was up 78.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 earnings per share. Research analysts predict that Energy Transfer LP will post 1.63 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be paid a $0.34 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.36 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Friday, August 7th. Energy Transfer’s payout ratio is presently 92.52%.

Energy Transfer Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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