Energy Transfer LP $ET Shares Acquired by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY increased its stake in shares of Energy Transfer LP (NYSE:ET) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,351,145 shares of the pipeline company’s stock after acquiring an additional 136,507 shares during the period. Energy Transfer comprises about 2.8% of Miller Howard Investments Inc. NY’s portfolio, making the stock its 5th largest position. Miller Howard Investments Inc. NY owned about 0.16% of Energy Transfer worth $91,826,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC increased its holdings in Energy Transfer by 1.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company’s stock worth $723,000 after buying an additional 565 shares during the last quarter. Bogart Wealth LLC grew its position in shares of Energy Transfer by 1.9% during the 2nd quarter. Bogart Wealth LLC now owns 32,788 shares of the pipeline company’s stock worth $594,000 after purchasing an additional 604 shares in the last quarter. MCF Advisors LLC raised its holdings in Energy Transfer by 7.2% in the 2nd quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company’s stock valued at $167,000 after acquiring an additional 616 shares in the last quarter. Chicago Capital LLC raised its holdings in Energy Transfer by 2.6% in the 2nd quarter. Chicago Capital LLC now owns 24,056 shares of the pipeline company’s stock valued at $436,000 after acquiring an additional 618 shares in the last quarter. Finally, Quantum Private Wealth LLC grew its stake in Energy Transfer by 0.5% during the second quarter. Quantum Private Wealth LLC now owns 116,515 shares of the pipeline company’s stock worth $2,112,000 after buying an additional 627 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on ET. JPMorgan Chase & Co. lowered their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Barclays reissued an “overweight” rating and set a $25.00 target price on shares of Energy Transfer in a research note on Wednesday, October 15th. Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Scotiabank cut their price target on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a research note on Thursday, November 13th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Energy Transfer in a research note on Wednesday, December 24th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.75.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $16.97 on Friday. The company has a 50-day moving average price of $16.58 and a two-hundred day moving average price of $17.09. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $58.25 billion, a PE ratio of 13.57, a P/E/G ratio of 0.89 and a beta of 0.66.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The company had revenue of $19.95 billion for the quarter, compared to analysts’ expectations of $21.84 billion. During the same period in the previous year, the firm earned $0.32 EPS. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. Equities analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were issued a $0.3325 dividend. This represents a $1.33 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend was Friday, November 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is 106.40%.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren purchased 1,000,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were purchased at an average price of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the acquisition, the director owned 104,577,803 shares in the company, valued at $1,772,593,760.85. This trade represents a 0.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 3.28% of the stock is owned by company insiders.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.