Energy Transfer LP (NYSE:ET) Stock Holdings Boosted by Whitener Capital Management Inc.

Whitener Capital Management Inc. raised its position in shares of Energy Transfer LP (NYSE:ET) by 13.2% in the second quarter, HoldingsChannel.com reports. The firm owned 21,404 shares of the pipeline company’s stock after buying an additional 2,500 shares during the period. Whitener Capital Management Inc.’s holdings in Energy Transfer were worth $272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Easterly Investment Partners LLC bought a new position in Energy Transfer during the 4th quarter valued at $158,000. Good Life Advisors LLC lifted its position in shares of Energy Transfer by 21.8% during the 1st quarter. Good Life Advisors LLC now owns 15,306 shares of the pipeline company’s stock valued at $191,000 after acquiring an additional 2,744 shares during the last quarter. Recurrent Investment Advisors LLC lifted its position in shares of Energy Transfer by 4.3% during the 1st quarter. Recurrent Investment Advisors LLC now owns 3,081,560 shares of the pipeline company’s stock valued at $38,427,000 after acquiring an additional 126,853 shares during the last quarter. Clear Creek Financial Management LLC lifted its position in shares of Energy Transfer by 4.8% during the 1st quarter. Clear Creek Financial Management LLC now owns 29,645 shares of the pipeline company’s stock valued at $370,000 after acquiring an additional 1,361 shares during the last quarter. Finally, Keybank National Association OH lifted its position in shares of Energy Transfer by 5.3% during the 1st quarter. Keybank National Association OH now owns 136,954 shares of the pipeline company’s stock valued at $1,708,000 after acquiring an additional 6,915 shares during the last quarter. 33.79% of the stock is owned by institutional investors.

Energy Transfer Stock Down 0.1 %

Shares of ET traded down $0.01 during mid-day trading on Tuesday, reaching $13.76. The company’s stock had a trading volume of 5,251,526 shares, compared to its average volume of 11,479,742. The company has a quick ratio of 0.64, a current ratio of 0.81 and a debt-to-equity ratio of 1.28. Energy Transfer LP has a 1 year low of $10.02 and a 1 year high of $13.90. The business has a fifty day moving average of $13.18 and a 200 day moving average of $12.81. The company has a market cap of $43.25 billion, a price-to-earnings ratio of 11.57 and a beta of 1.70.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.05). Energy Transfer had a return on equity of 11.85% and a net margin of 5.05%. The firm had revenue of $18.32 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the prior year, the business posted $0.39 earnings per share. Energy Transfer’s revenue was down 29.4% on a year-over-year basis. As a group, analysts forecast that Energy Transfer LP will post 1.21 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 14th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, August 11th. This represents a $1.24 annualized dividend and a dividend yield of 9.01%. Energy Transfer’s dividend payout ratio is 103.33%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ET shares. Mizuho increased their price objective on Energy Transfer from $17.00 to $18.00 in a research report on Tuesday, July 18th. Morgan Stanley restated an “overweight” rating and issued a $17.00 target price on shares of Energy Transfer in a report on Thursday, July 20th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $16.67.

Insider Buying and Selling

In other news, EVP Bradford D. Whitehurst acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was acquired at an average cost of $13.00 per share, for a total transaction of $130,000.00. Following the completion of the acquisition, the executive vice president now owns 1,313,055 shares in the company, valued at $17,069,715. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Energy Transfer news, Chairman Kelcy L. Warren bought 1,150,000 shares of the stock in a transaction on Monday, August 21st. The shares were purchased at an average cost of $13.00 per share, with a total value of $14,950,000.00. Following the completion of the transaction, the chairman now directly owns 64,578,477 shares of the company’s stock, valued at approximately $839,520,201. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Bradford D. Whitehurst bought 10,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were acquired at an average cost of $13.00 per share, for a total transaction of $130,000.00. Following the completion of the transaction, the executive vice president now directly owns 1,313,055 shares of the company’s stock, valued at $17,069,715. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 2,010,000 shares of company stock worth $26,149,000. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,945 miles of interstate natural gas pipeline.