Autumn Glory Partners LLC Sells 2,700 Shares of Energy Transfer LP (NYSE:ET)

Autumn Glory Partners LLC lowered its position in Energy Transfer LP (NYSE:ET) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 131,331 shares of the pipeline company’s stock after selling 2,700 shares during the period. Energy Transfer comprises approximately 1.1% of Autumn Glory Partners LLC’s holdings, making the stock its 27th largest position. Autumn Glory Partners LLC’s holdings in Energy Transfer were worth $2,130,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Northwest Financial Advisors bought a new position in shares of Energy Transfer in the fourth quarter worth about $25,000. LRI Investments LLC bought a new position in Energy Transfer in the 1st quarter worth approximately $29,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Energy Transfer during the 4th quarter valued at approximately $33,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $34,000. Finally, EdgeRock Capital LLC purchased a new position in shares of Energy Transfer in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. UBS Group raised their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Mizuho boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Morgan Stanley increased their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Finally, Stifel Nicolaus upped their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $19.29.

Insider Activity at Energy Transfer

In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Kelcy L. Warren acquired 3,000,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the purchase, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. The disclosure for this purchase can be found here. Insiders bought 3,040,000 shares of company stock valued at $47,667,200 over the last 90 days. Insiders own 3.28% of the company’s stock.

Energy Transfer Trading Down 1.4 %

Shares of ET traded down $0.22 during trading hours on Tuesday, reaching $15.88. 1,611,524 shares of the company traded hands, compared to its average volume of 13,373,043. The stock’s fifty day moving average price is $16.11 and its 200 day moving average price is $15.71. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. The firm has a market cap of $54.35 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.47 and a beta of 1.66. Energy Transfer LP has a 12-month low of $12.90 and a 12-month high of $16.50.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same period last year, the business posted $0.25 earnings per share. Sell-side analysts forecast that Energy Transfer LP will post 1.4 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 8.06%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 117.43%.

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.