Kayne Anderson Capital Advisors LP Sells 259,215 Shares of Energy Transfer LP (NYSE:ET)

Kayne Anderson Capital Advisors LP lessened its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 1.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,264,067 shares of the pipeline company's stock after selling 259,215 shares during the period. Energy Transfer comprises 9.1% of Kayne Anderson Capital Advisors LP's investment portfolio, making the stock its 2nd biggest holding. Kayne Anderson Capital Advisors LP owned about 0.65% of Energy Transfer worth $357,338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ET. Fortis Capital Management LLC raised its position in Energy Transfer by 2.0% in the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company's stock valued at $513,000 after purchasing an additional 634 shares during the last quarter. Princeton Global Asset Management LLC raised its position in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company's stock worth $26,000 after buying an additional 650 shares during the last quarter. Veracity Capital LLC raised its position in Energy Transfer by 2.0% during the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company's stock worth $545,000 after buying an additional 659 shares during the last quarter. Haverford Trust Co raised its position in Energy Transfer by 0.7% during the 3rd quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company's stock worth $1,640,000 after buying an additional 675 shares during the last quarter. Finally, Morton Capital Management LLC CA raised its position in Energy Transfer by 1.6% during the 2nd quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company's stock worth $720,000 after buying an additional 699 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. This trade represents a 3.50 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.28% of the stock is owned by corporate insiders.

Energy Transfer Price Performance

NYSE ET traded up $0.29 during trading hours on Monday, reaching $17.58. The company's stock had a trading volume of 17,175,724 shares, compared to its average volume of 13,375,769. The stock has a market cap of $60.18 billion, a PE ratio of 12.92, a PEG ratio of 0.53 and a beta of 1.66. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.92 and a current ratio of 1.08. The company's 50-day moving average is $16.42 and its two-hundred day moving average is $16.10. Energy Transfer LP has a fifty-two week low of $13.11 and a fifty-two week high of $17.71.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter last year, the firm posted $0.31 earnings per share. Energy Transfer's revenue for the quarter was up .2% compared to the same quarter last year. Analysts forecast that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be given a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 7.34%. The ex-dividend date of this dividend is Friday, November 8th. Energy Transfer's dividend payout ratio (DPR) is 94.85%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ET. UBS Group upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, September 18th. Bank of America started coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a "buy" rating and a $20.00 price target on the stock. Finally, Royal Bank of Canada upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average 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.