Waverly Advisors LLC Sells 335,547 Shares of Energy Transfer LP $ET

Waverly Advisors LLC decreased its position in Energy Transfer LP (NYSE:ET) by 19.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,390,296 shares of the pipeline company’s stock after selling 335,547 shares during the period. Waverly Advisors LLC’s holdings in Energy Transfer were worth $26,582,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ET. Allianz Asset Management GmbH grew its holdings in shares of Energy Transfer by 11.5% during the second quarter. Allianz Asset Management GmbH now owns 2,957,838 shares of the pipeline company’s stock valued at $56,554,000 after buying an additional 304,872 shares during the last quarter. Planning Project LLC purchased a new stake in Energy Transfer in the second quarter worth approximately $211,000. Corient Private Wealth LP increased its position in Energy Transfer by 5.1% during the second quarter. Corient Private Wealth LP now owns 1,821,330 shares of the pipeline company’s stock valued at $34,824,000 after acquiring an additional 87,730 shares during the last quarter. Advus Financial Partners LLC boosted its holdings in shares of Energy Transfer by 1.9% in the second quarter. Advus Financial Partners LLC now owns 33,818 shares of the pipeline company’s stock worth $647,000 after buying an additional 626 shares during the last quarter. Finally, Readystate Asset Management LP purchased a new stake in shares of Energy Transfer in the 2nd quarter worth $279,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Energy Transfer news, Director James Perry purchased 12,359 shares of the business’s stock in a transaction on Friday, August 7th. The shares were bought at an average cost of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the purchase, the director directly owned 208,046 shares of the company’s stock, valued at approximately $4,208,770.58. This trade represents a 6.32% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kelcy L. Warren purchased 647,968 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was acquired at an average price of $21.26 per share, for a total transaction of $13,775,799.68. Following the completion of the purchase, the director owned 147,901,879 shares of the company’s stock, valued at $3,144,393,947.54. This represents a 0.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 1,012,359 shares of company stock worth $21,513,543. 3.28% of the stock is currently owned by company insiders.

Energy Transfer Stock Performance

ET traded up $0.01 on Tuesday, reaching $21.50. 6,984,750 shares of the stock were exchanged, compared to its average volume of 12,893,168. The company’s 50-day moving average price is $20.56 and its 200 day moving average price is $19.68. The firm has a market capitalization of $74.05 billion, a PE ratio of 14.63, a PEG ratio of 0.73 and a beta of 0.57. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $21.77. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.38 by $0.21. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The firm had revenue of $34.33 billion for the quarter, compared to analyst estimates of $27.71 billion. During the same period last year, the company earned $0.32 earnings per share. Energy Transfer’s revenue for the quarter was up 78.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.7 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date was Friday, August 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is currently 92.52%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ET shares. TD Cowen reiterated a “buy” rating and set a $25.00 target price (up from $24.00) on shares of Energy Transfer in a research report on Monday, August 10th. Weiss Ratings lowered Energy Transfer from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, August 25th. Truist Financial raised their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Wall Street Zen upgraded shares of Energy Transfer from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on Energy Transfer from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average target price of $24.17.

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.