Osaic Holdings Inc. Sells 59,664 Shares of Energy Transfer LP $ET

Osaic Holdings Inc. trimmed its holdings in Energy Transfer LP (NYSE:ET) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,872,247 shares of the pipeline company’s stock after selling 59,664 shares during the quarter. Osaic Holdings Inc. owned approximately 0.08% of Energy Transfer worth $52,076,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC boosted its position in shares of Energy Transfer by 93.4% during the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after acquiring an additional 11,844 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new stake in Energy Transfer in the 1st quarter valued at $204,000. Steward Partners Investment Advisory LLC lifted its stake in Energy Transfer by 6.2% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 397,626 shares of the pipeline company’s stock worth $7,392,000 after purchasing an additional 23,252 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Energy Transfer during the 1st quarter valued at about $49,000. Finally, Northern Trust Corp boosted its holdings in shares of Energy Transfer by 223.5% during the 1st quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company’s stock valued at $19,883,000 after purchasing an additional 738,885 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $16.53 on Tuesday. The stock has a market cap of $56.74 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 1.00 and a beta of 0.65. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.14 and a current ratio of 1.41. The stock has a 50 day moving average price of $16.69 and a 200-day moving average price of $17.28. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.06). The company had revenue of $19.95 billion for the quarter, compared to analysts’ expectations of $21.84 billion. Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 EPS. Equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were paid a dividend of $0.3325 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 8.0%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is presently 106.40%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group set a $17.00 target price on Energy Transfer and gave the stock a “hold” rating in a report on Tuesday, October 28th. Morgan Stanley reduced their price objective on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 2nd. Barclays reaffirmed an “overweight” rating and set a $25.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. JPMorgan Chase & Co. cut their target price on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.62.

Insider Buying and Selling

In other news, Director Kelcy L. Warren purchased 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were bought at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the acquisition, the director owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.28% of the company’s stock.

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.