Focus Financial Network Inc. Has $401,000 Position in Energy Transfer LP (NYSE:ET)

Focus Financial Network Inc. trimmed its holdings in shares of Energy Transfer LP (NYSE:ET) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,876 shares of the pipeline company’s stock after selling 1,073 shares during the period. Focus Financial Network Inc.’s holdings in Energy Transfer were worth $401,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. First Reserve GP XIII Ltd bought a new position in shares of Energy Transfer during the 4th quarter worth approximately $322,097,000. Clearbridge Investments LLC increased its holdings in shares of Energy Transfer by 18.5% in the fourth quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after purchasing an additional 3,976,676 shares during the last quarter. UBS Group AG lifted its stake in shares of Energy Transfer by 13.3% during the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock worth $395,270,000 after buying an additional 3,368,427 shares during the last quarter. Natixis boosted its holdings in shares of Energy Transfer by 20.0% during the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after buying an additional 2,999,300 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in Energy Transfer by 117.3% in the 4th quarter. Allianz Asset Management GmbH now owns 3,867,998 shares of the pipeline company’s stock valued at $53,378,000 after buying an additional 2,088,356 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Insider Transactions at Energy Transfer

In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Thomas E. Long acquired 20,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kelcy L. Warren bought 3,000,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the transaction, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The disclosure for this purchase can be found here. Insiders own 3.28% of the company’s stock.

Energy Transfer Trading Down 0.2 %

NYSE ET traded down $0.03 during mid-day trading on Wednesday, reaching $16.03. 5,055,431 shares of the stock were exchanged, compared to its average volume of 13,577,313. The stock has a market cap of $54.02 billion, a P/E ratio of 14.72, a P/E/G ratio of 0.42 and a beta of 1.66. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. Energy Transfer LP has a one year low of $12.89 and a one year high of $16.50. The stock has a 50 day simple moving average of $16.02 and a 200-day simple moving average of $15.59.

Energy Transfer (NYSE:ET) last announced 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). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, analysts anticipate that Energy Transfer LP will post 1.49 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a dividend of $0.32 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. This represents a $1.28 annualized dividend and a dividend yield of 7.99%. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. UBS Group boosted their price objective on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Stifel Nicolaus increased their price objective on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Mizuho boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Finally, Morgan Stanley boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

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.