Americana Partners LLC Has $48.52 Million Stock Position in Energy Transfer LP $ET

Americana Partners LLC raised its holdings in shares of Energy Transfer LP (NYSE:ET) by 17.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,676,064 shares of the pipeline company’s stock after buying an additional 404,297 shares during the quarter. Energy Transfer comprises 1.7% of Americana Partners LLC’s investment portfolio, making the stock its 12th largest holding. Americana Partners LLC’s holdings in Energy Transfer were worth $48,517,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its stake in Energy Transfer by 1.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company’s stock valued at $723,000 after purchasing an additional 565 shares during the last quarter. Indiana Trust & Investment Management Co grew its position in Energy Transfer by 5.1% in the 1st quarter. Indiana Trust & Investment Management Co now owns 11,796 shares of the pipeline company’s stock worth $219,000 after purchasing an additional 576 shares during the last quarter. Beam Wealth Advisors Inc. grew its position in Energy Transfer by 1.5% in the 1st quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company’s stock worth $742,000 after purchasing an additional 585 shares during the last quarter. Bogart Wealth LLC increased its holdings 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 during the period. Finally, MCF Advisors LLC raised its position in shares of Energy Transfer by 7.2% during the second quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company’s stock valued at $167,000 after buying an additional 616 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ET. Wells Fargo & Company reissued an “overweight” rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. UBS Group reiterated a “buy” rating and issued a $22.00 price objective on shares of Energy Transfer in a research report on Wednesday, October 15th. Jefferies Financial Group set a $17.00 price objective on Energy Transfer and gave the company a “hold” rating in a research report on Tuesday, October 28th. Scotiabank began coverage on Energy Transfer in a research note on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 target price for the company. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $22.23.

Insider Buying and Selling

In other news, Director Kelcy L. Warren acquired 1,350,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were purchased at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the purchase, the director owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. This represents a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.28% of the stock is currently owned by company insiders.

Energy Transfer Price Performance

Energy Transfer stock opened at $16.44 on Monday. The business has a 50 day simple moving average of $17.04 and a 200 day simple moving average of $17.42. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. The company has a market capitalization of $56.42 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 1.01 and a beta of 0.76. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45.

Energy Transfer (NYSE:ET) last announced its quarterly 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). The company had revenue of $19.95 billion during the quarter, compared to the consensus estimate of $21.84 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The business’s revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. On average, sell-side analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company 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 dividend of $0.3325 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.33 annualized dividend and a yield of 8.1%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is 106.40%.

Energy Transfer Company 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.