180 Wealth Advisors LLC Sells 17,986 Shares of Energy Transfer LP $ET

Key Points

• 180 Wealth Advisors LLC has reduced its stake in Energy Transfer LP by 8.7%, selling 17,986 shares in the 2nd quarter, now holding 189,299 shares valued at approximately $3.43 million.
• Director Kelcy L. Warren purchased 1.35 million shares of Energy Transfer at an average price of $17.36, increasing his ownership and investment in the company significantly.
• Energy Transfer's earnings report showed a quarterly EPS of $0.32, meeting analysts' expectations, but revenue decreased by 7.2% year-over-year to $19.24 billion.

180 Wealth Advisors LLC lowered its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 8.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 189,299 shares of the pipeline company's stock after selling 17,986 shares during the quarter. 180 Wealth Advisors LLC's holdings in Energy Transfer were worth $3,432,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Carnegie Investment Counsel bought a new position in shares of Energy Transfer during the 2nd quarter valued at approximately $466,000. WFA Asset Management Corp increased its position in shares of Energy Transfer by 325.8% during the 2nd quarter. WFA Asset Management Corp now owns 13,435 shares of the pipeline company's stock valued at $244,000 after purchasing an additional 10,280 shares during the last quarter. KPP Advisory Services LLC increased its position in shares of Energy Transfer by 5.1% during the 2nd quarter. KPP Advisory Services LLC now owns 38,039 shares of the pipeline company's stock valued at $690,000 after purchasing an additional 1,831 shares during the last quarter. Cornerstone Advisory LLC increased its position in shares of Energy Transfer by 3.8% during the 2nd quarter. Cornerstone Advisory LLC now owns 105,575 shares of the pipeline company's stock valued at $1,914,000 after purchasing an additional 3,819 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its position in shares of Energy Transfer by 28.7% during the 2nd quarter. Bleakley Financial Group LLC now owns 30,239 shares of the pipeline company's stock valued at $548,000 after purchasing an additional 6,752 shares during the last quarter. Institutional investors own 38.22% of the company's stock.

Insider Activity

In other news, Director Kelcy L. Warren purchased 1,350,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the transaction, the director owned 69,178,477 shares of the company's stock, valued at $1,200,938,360.72. This represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.28% of the company's stock.

Energy Transfer Price Performance

ET opened at $16.85 on Friday. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The business's fifty day simple moving average is $17.19 and its 200-day simple moving average is $17.38. The company has a market capitalization of $57.82 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.00 and a beta of 0.78.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business had revenue of $19.24 billion for the quarter, compared to the consensus estimate of $24.07 billion. During the same quarter in the prior year, the company earned $0.35 EPS. The business's revenue was down 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on ET. Cowen assumed coverage on Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating on the stock. Morgan Stanley cut their price objective on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 26th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. UBS Group reaffirmed a "buy" rating and issued a $22.00 price objective on shares of Energy Transfer in a research report on Wednesday, October 15th. Finally, TD Cowen assumed coverage on Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating and a $22.00 price objective on the stock. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Energy Transfer presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.67.

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.

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