Madrona Financial Services LLC Sells 1,536 Shares of Energy Transfer LP $ET

Madrona Financial Services LLC reduced its position in shares of Energy Transfer LP (NYSE:ET) by 12.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,274 shares of the pipeline company’s stock after selling 1,536 shares during the quarter. Madrona Financial Services LLC’s holdings in Energy Transfer were worth $204,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC acquired a new position in Energy Transfer during the second quarter worth $168,917,000. Alps Advisors Inc. raised its holdings in shares of 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 acquiring an additional 8,613,645 shares during the last quarter. Commerce Bank acquired a new stake in shares of Energy Transfer in the 1st quarter worth about $92,607,000. Energy Income Partners LLC lifted its position in Energy Transfer by 12.0% in the 1st quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company’s stock valued at $429,802,000 after acquiring an additional 2,471,401 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Energy Transfer during the 1st quarter valued at about $44,876,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET stock opened at $17.00 on Thursday. The firm’s 50 day moving average is $17.51 and its 200 day moving average is $17.57. The stock has a market capitalization of $58.34 billion, a P/E ratio of 13.17, a PEG ratio of 1.01 and a beta of 0.78. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. 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 (NYSE:ET) last released its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The company had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. During the same period in the previous year, the company posted $0.35 EPS. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.46 earnings per share 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 given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.8%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, August 8th. Energy Transfer’s dividend payout ratio (DPR) is 102.33%.

Insiders Place Their Bets

In other news, Director Kelcy L. Warren bought 1,350,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were acquired at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Cowen initiated coverage on Energy Transfer in a report on Monday, July 7th. They set a “buy” rating for the company. Wells Fargo & Company reiterated an “overweight” rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Scotiabank initiated coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price target for the company. TD Cowen assumed coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Morgan Stanley reduced 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 report on Tuesday, August 26th. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

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.