Adell Harriman & Carpenter Inc. Has $3.04 Million Stock Holdings in Energy Transfer LP (NYSE:ET)

Adell Harriman & Carpenter Inc. lifted its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 35.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 187,650 shares of the pipeline company's stock after purchasing an additional 48,603 shares during the period. Adell Harriman & Carpenter Inc.'s holdings in Energy Transfer were worth $3,044,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ET. First Reserve GP XIII Ltd acquired a new position in Energy Transfer during the fourth quarter valued at $322,097,000. Clearbridge Investments LLC raised its position in Energy Transfer by 18.5% during the fourth 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 during the period. UBS Group AG raised its position in Energy Transfer by 13.3% during the fourth 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 during the period. Natixis raised its position in Energy Transfer by 20.0% during the first 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 raised its position in 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 valued at $53,378,000 after buying an additional 2,088,356 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Energy Transfer

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ET shares. Stifel Nicolaus boosted their target price on Energy Transfer from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the company an "overweight" rating in a research note on Thursday, June 20th. Morgan Stanley boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the company an "overweight" rating in a research note on Monday, June 10th. UBS Group boosted their target price on Energy Transfer from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, May 15th. Finally, Mizuho boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, June 18th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $19.29.

Energy Transfer Stock Performance

NYSE:ET traded down $0.06 during mid-day trading on Tuesday, hitting $16.04. 13,383,817 shares of the company's stock traded hands, compared to its average volume of 13,442,636. The firm has a 50 day moving average of $16.11 and a two-hundred day moving average of $15.71. Energy Transfer LP has a 12 month low of $12.90 and a 12 month high of $16.50. The firm has a market capitalization of $54.06 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 0.47 and a beta of 1.66. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same period last year, the company earned $0.25 EPS. The company's revenue was up 13.1% on a year-over-year basis. On average, equities analysts forecast that Energy Transfer LP will post 1.4 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a dividend of $0.32 per share. 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. This represents a $1.28 dividend on an annualized basis and a yield of 7.98%. Energy Transfer's dividend payout ratio is 117.43%.

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.