Tortoise Capital Advisors L.L.C. Has $710.24 Million Holdings in Energy Transfer LP $ET

Tortoise Capital Advisors L.L.C. grew its stake in shares of Energy Transfer LP (NYSE:ET) by 2.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,205,495 shares of the pipeline company’s stock after acquiring an additional 951,656 shares during the period. Energy Transfer comprises 8.6% of Tortoise Capital Advisors L.L.C.’s investment portfolio, making the stock its 4th biggest position. Tortoise Capital Advisors L.L.C.’s holdings in Energy Transfer were worth $710,240,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alps Advisors Inc. boosted its holdings in 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 period. Commerce Bank bought a new position in Energy Transfer in the 1st quarter valued at $92,607,000. Zurich Insurance Group Ltd FI bought a new stake in shares of Energy Transfer during the 4th quarter worth $79,113,000. Hsbc Holdings PLC bought a new stake in shares of Energy Transfer during the 4th quarter worth $50,166,000. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of Energy Transfer by 18.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company’s stock worth $319,929,000 after acquiring an additional 2,512,060 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Insider Activity

In other news, Director James Richard Perry sold 1,369 shares of the company’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the completion of the transaction, the director directly owned 24,523 shares of the company’s stock, valued at approximately $453,185.04. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kelcy L. Warren purchased 1,350,000 shares of Energy Transfer stock in a transaction that occurred on Wednesday, August 20th. The shares were bought at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the transaction, the director directly owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $17.4550 on Friday. The company has a market cap of $59.92 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 0.90 and a beta of 0.83. The company has a 50-day moving average price of $17.69 and a 200-day moving average price of $17.93. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45.

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

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 7.6%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 8th. Energy Transfer’s payout ratio is currently 102.33%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ET. TD Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a “buy” rating and a $22.00 price objective for the company. Wells Fargo & Company reaffirmed an “overweight” rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Mizuho lifted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. dropped their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, May 19th. Finally, Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating for the company. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.75.

Energy Transfer 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.