Stephens Inc. AR Has $24.58 Million Stock Position in Energy Transfer LP $ET

Stephens Inc. AR decreased its stake in Energy Transfer LP (NYSE:ET) by 8.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,355,896 shares of the pipeline company’s stock after selling 120,145 shares during the period. Stephens Inc. AR’s holdings in Energy Transfer were worth $24,582,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Alps Advisors Inc. grew its stake in shares of Energy Transfer by 12.9% in the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company’s stock worth $1,400,831,000 after acquiring an additional 8,613,645 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in shares of Energy Transfer by 2.6% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 38,205,495 shares of the pipeline company’s stock worth $710,240,000 after acquiring an additional 951,656 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its stake in shares of Energy Transfer by 0.8% in the first quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company’s stock worth $449,329,000 after acquiring an additional 182,705 shares during the last quarter. Energy Income Partners LLC grew its stake in shares of Energy Transfer by 12.0% in the first quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company’s stock worth $429,802,000 after acquiring an additional 2,471,401 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its stake in shares of Energy Transfer by 2.8% in the first quarter. Westwood Holdings Group Inc. now owns 16,787,080 shares of the pipeline company’s stock worth $312,072,000 after acquiring an additional 455,860 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Down 1.4%

Shares of ET stock opened at $16.44 on Monday. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The company has a market capitalization of $56.43 billion, a P/E ratio of 12.74, a P/E/G ratio of 0.97 and a beta of 0.78. The firm has a 50-day moving average price of $17.23 and a 200 day moving average price of $17.38. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44.

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

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were issued a $0.33 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend was Friday, August 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 102.33%.

Insider Activity

In other Energy Transfer news, Director Kelcy L. Warren purchased 1,350,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the acquisition, the director directly owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. This represents a 1.99% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.28% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating on the stock. Wells Fargo & Company reiterated an “overweight” rating and set a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Barclays reiterated an “overweight” rating and set a $25.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. Morgan Stanley decreased their price target on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. Finally, TD Cowen assumed coverage on Energy Transfer in a report on Monday, July 7th. They set a “buy” rating and a $22.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.67.

Energy Transfer Company 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.