Energy Transfer LP $ET Shares Sold by Kingsman Wealth Management Inc.

Kingsman Wealth Management Inc. lowered its stake in shares of Energy Transfer LP (NYSE:ET) by 55.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,614 shares of the pipeline company’s stock after selling 30,371 shares during the period. Kingsman Wealth Management Inc.’s holdings in Energy Transfer were worth $422,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ET. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Energy Transfer during the 2nd quarter worth about $168,917,000. Northside Capital Management LLC acquired a new position in shares of Energy Transfer in the second quarter valued at approximately $34,231,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Energy Transfer by 9.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,353,476 shares of the pipeline company’s stock valued at $387,139,000 after buying an additional 1,825,391 shares during the period. Jump Financial LLC boosted its position in Energy Transfer by 2,687.9% during the second quarter. Jump Financial LLC now owns 1,791,358 shares of the pipeline company’s stock worth $32,477,000 after acquiring an additional 1,727,104 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in Energy Transfer by 223.7% during the second quarter. Corient Private Wealth LLC now owns 1,690,771 shares of the pipeline company’s stock worth $30,654,000 after acquiring an additional 1,168,440 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

NYSE ET opened at $16.54 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.41 and a quick ratio of 1.14. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The firm has a market capitalization of $56.77 billion, a P/E ratio of 13.23, a P/E/G ratio of 0.98 and a beta of 0.65. The business’s 50-day simple moving average is $16.63 and its 200-day simple moving average is $17.16.

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

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were issued a dividend of $0.3325 per share. This represents a $1.33 annualized dividend and a dividend yield of 8.0%. The ex-dividend date was Friday, November 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is presently 106.40%.

Insiders Place Their Bets

In related news, Director Kelcy L. Warren purchased 1,000,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased 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 in the company, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.28% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Jefferies Financial Group set a $17.00 price target on Energy Transfer and gave the stock a “hold” rating in a research note on Tuesday, October 28th. Scotiabank dropped their target price on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a research note on Thursday, November 13th. Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th. Barclays restated an “overweight” rating and issued a $25.00 price target on shares of Energy Transfer in a report on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and an average target price of $21.75.

Energy Transfer Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.