364,190 Energy Transfer LP $ET Shares Acquired by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY raised its holdings in shares of Energy Transfer LP (NYSEAMERICAN:ET) by 6.9% in the third quarter, HoldingsChannel.com reports. The firm owned 5,679,174 shares of the pipeline company’s stock after buying an additional 364,190 shares during the period. Energy Transfer comprises 3.0% of Miller Howard Investments Inc. NY’s holdings, making the stock its 3rd largest position. Miller Howard Investments Inc. NY’s holdings in Energy Transfer were worth $112,277,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Osbon Capital Management LLC purchased a new stake in shares of Energy Transfer in the second quarter worth approximately $25,000. Sawyer & Company Inc purchased a new position in shares of Energy Transfer during the third quarter valued at approximately $30,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Energy Transfer during the first quarter valued at approximately $35,000. Financial Life Planners bought a new stake in Energy Transfer during the first quarter worth $40,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Energy Transfer during the second quarter worth $42,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.7%

Shares of NYSEAMERICAN:ET opened at $20.60 on Tuesday. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $21.84. The company has a market capitalization of $70.93 billion, a PE ratio of 14.01 and a beta of 0.60. The business has a fifty day moving average price of $20.81 and a two-hundred day moving average price of $19.55. 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 (NYSEAMERICAN:ET) last released its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.21. The company had revenue of $34.33 billion for the quarter, compared to analysts’ expectations of $27.71 billion. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%. The business’s revenue for the quarter was up 78.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. Analysts forecast that Energy Transfer LP will post 1.73 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Friday, November 6th will be issued a dividend of $0.3425 per share. This represents a $1.37 dividend on an annualized basis and a yield of 6.7%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, November 6th. Energy Transfer’s dividend payout ratio is 92.52%.

Analysts Set New Price Targets

Several equities analysts have weighed in on ET shares. Citigroup restated a “buy” rating and set a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research note on Friday, August 7th. TD Cowen reiterated a “buy” rating and issued a $25.00 target price (up from $24.00) on shares of Energy Transfer in a research note on Monday, August 10th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. Morgan Stanley increased their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday, August 18th. Finally, Stifel Nicolaus began coverage on shares of Energy Transfer in a research report on Thursday, September 10th. They set a “buy” rating and a $25.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $24.60.

Insider Transactions at Energy Transfer

In related news, Director Kelcy Warren acquired 647,968 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director owned 147,901,879 shares of the company’s stock, valued at approximately $3,144,393,947.54. This represents a 0.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Perry acquired 12,359 shares of the stock in a transaction on Friday, August 7th. The stock was bought at an average cost of $20.23 per share, for a total transaction of $250,022.57. Following the transaction, the director 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 position. The SEC filing for this purchase provides additional information. Insiders have purchased 1,012,359 shares of company stock valued at $21,513,543 in the last 90 days. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Profile

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.