Miller Howard Investments Inc. NY Has $100.84 Million Stake in Energy Transfer LP (NYSE:ET)

Miller Howard Investments Inc. NY increased its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,217,181 shares of the pipeline company's stock after purchasing an additional 247,374 shares during the period. Energy Transfer makes up 3.3% of Miller Howard Investments Inc. NY's portfolio, making the stock its 2nd largest holding. Miller Howard Investments Inc. NY owned about 0.18% of Energy Transfer worth $100,843,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the firm's stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the purchase, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kelcy L. Warren bought 3,000,000 shares of the company's stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas E. Long purchased 20,000 shares of the business's stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. The disclosure for this purchase can be found here. Insiders have acquired a total of 3,040,000 shares of company stock worth $47,667,200 in the last ninety days. 3.28% of the stock is owned by insiders.

Energy Transfer Stock Down 0.2 %

Energy Transfer stock traded down $0.04 during trading hours on Wednesday, reaching $15.88. The stock had a trading volume of 10,854,911 shares, compared to its average volume of 13,505,404. The company has a market cap of $53.50 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 0.42 and a beta of 1.66. The business's 50 day moving average price is $16.08 and its 200-day moving average price is $15.66. Energy Transfer LP has a 52 week low of $12.90 and a 52 week high of $16.50. 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 (NYSE:ET - Get Free Report) last issued 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). The firm had revenue of $20.73 billion during the quarter, compared to analysts' expectations of $22.01 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm's quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. Sell-side analysts anticipate that Energy Transfer LP will post 1.49 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 8.06%. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's dividend payout ratio is currently 117.43%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ET. Mizuho increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, June 18th. Stifel Nicolaus increased their price target on Energy Transfer from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. raised their price target on Energy Transfer from $19.00 to $20.00 and gave the company an "overweight" rating in a research note on Thursday, June 20th. UBS Group upped their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, May 15th. Finally, Morgan Stanley boosted their price target 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 research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Energy Transfer has an average rating of "Moderate Buy" and a consensus price target of $19.29.

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.

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