Energy Transfer LP $ET Holdings Decreased by International Assets Investment Management LLC

International Assets Investment Management LLC trimmed its stake in shares of Energy Transfer LP (NYSE:ET) by 11.6% during the second quarter, Holdings Channel reports. The firm owned 238,623 shares of the pipeline company’s stock after selling 31,263 shares during the period. International Assets Investment Management LLC’s holdings in Energy Transfer were worth $4,326,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ET. Ryan Investment Management Inc. bought a new position in Energy Transfer during the 2nd quarter valued at $31,000. Vision Financial Markets LLC bought a new stake in shares of Energy Transfer during the 1st quarter worth $33,000. Stone House Investment Management LLC purchased a new stake in shares of Energy Transfer in the first quarter valued at $38,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer in the first quarter valued at $38,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Energy Transfer in the first quarter valued at $40,000. 38.22% of the stock is owned by institutional investors.

Insider Activity

In other news, 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 acquired at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the transaction, the director owned 69,178,477 shares of the company’s stock, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.28% of the stock is currently owned by insiders.

Energy Transfer Trading Down 1.4%

Energy Transfer stock opened at $16.44 on Friday. The firm has a 50-day moving average of $17.23 and a 200-day moving average of $17.38. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. The company has a market cap of $56.43 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 0.97 and a beta of 0.78.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The company 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 EPS. On average, equities analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date was Friday, August 8th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is currently 102.33%.

Wall Street Analyst Weigh In

ET has been the topic of several analyst reports. Wells Fargo & Company reissued an “overweight” rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating for the company. Morgan Stanley cut their target price on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Finally, UBS Group restated a “buy” rating and issued a $22.00 price objective on shares of Energy Transfer in a research report on Wednesday. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.67.

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.