Energy Transfer LP $ET is Kayne Anderson Capital Advisors LP’s 2nd Largest Position

Kayne Anderson Capital Advisors LP lowered its holdings in shares of Energy Transfer LP (NYSE:ET) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,064,316 shares of the pipeline company’s stock after selling 106,139 shares during the quarter. Energy Transfer accounts for 10.1% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 2nd biggest holding. Kayne Anderson Capital Advisors LP owned about 0.70% of Energy Transfer worth $436,286,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Ryan Investment Management Inc. purchased a new stake in shares of Energy Transfer in the 2nd quarter worth $31,000. Vision Financial Markets LLC purchased a new stake in shares of Energy Transfer in the 1st quarter worth $33,000. CNB Bank raised its position in shares of Energy Transfer by 111.1% in the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 1,000 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of Energy Transfer in the 1st quarter worth $38,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Energy Transfer in the 1st quarter worth $40,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

Shares of ET stock opened at $16.94 on Thursday. The company has a market capitalization of $58.15 billion, a P/E ratio of 13.13, a P/E/G ratio of 1.01 and a beta of 0.76. The business’s 50 day moving average is $17.08 and its two-hundred day moving average is $17.42. 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 announced its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm had revenue of $19.95 billion for the quarter, compared to analyst estimates of $21.84 billion. Analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Friday, November 7th will be issued a $0.3325 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 annualized dividend and a dividend yield of 7.9%. The ex-dividend date of this dividend is Friday, November 7th. Energy Transfer’s payout ratio is 103.10%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Morgan Stanley reduced their target price on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Barclays reaffirmed an “overweight” rating and set a $25.00 target price on shares of Energy Transfer in a research report on Wednesday, October 15th. Jefferies Financial Group set a $17.00 price target on Energy Transfer and gave the company a “hold” rating in a research note on Tuesday, October 28th. Finally, UBS Group reiterated a “buy” rating and set a $22.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.23.

Insider Activity at Energy Transfer

In related 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 purchased at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the acquisition, the director owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.28% of the company’s stock.

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.