Marcum Wealth LLC Sells 674 Shares of Energy Transfer LP (NYSE:ET)

Marcum Wealth LLC cut its stake in Energy Transfer LP (NYSE:ET) by 5.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,286 shares of the pipeline company’s stock after selling 674 shares during the quarter. Marcum Wealth LLC’s holdings in Energy Transfer were worth $197,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Tortoise Capital Advisors L.L.C. grew its stake in shares of Energy Transfer by 12.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after acquiring an additional 4,141,715 shares in the last quarter. Natixis grew its stake in shares of Energy Transfer by 20.0% in the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after acquiring an additional 2,999,300 shares in the last quarter. Payden & Rygel Investment Group acquired a new position in shares of Energy Transfer in the first quarter valued at about $20,164,000. Merewether Investment Management LP grew its stake in shares of Energy Transfer by 22.3% in the second quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock valued at $106,919,000 after acquiring an additional 1,200,501 shares in the last quarter. Finally, Progeny 3 Inc. grew its stake in shares of Energy Transfer by 104.6% in the first quarter. Progeny 3 Inc. now owns 2,205,785 shares of the pipeline company’s stock valued at $34,697,000 after acquiring an additional 1,127,500 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Up 0.9 %

Shares of NYSE ET opened at $16.51 on Friday. The company has a 50 day simple moving average of $16.04 and a 200 day simple moving average of $15.92. The firm has a market cap of $55.64 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a 1 year low of $12.90 and a 1 year high of $16.64. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The business had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 EPS. On average, research analysts forecast that Energy Transfer LP will post 1.35 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 7.75%. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

Insider Activity at Energy Transfer

In other news, CEO Thomas E. Long purchased 20,000 shares of the stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Thomas E. Long purchased 20,000 shares of the stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the acquisition, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 3,040,000 shares of company stock worth $47,667,200 in the last quarter. 3.28% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. UBS Group increased their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Finally, Mizuho increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $20.00.

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.