Atria Wealth Solutions Inc. trimmed its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 50.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 338,260 shares of the pipeline company's stock after selling 342,368 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Energy Transfer were worth $6,288,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in ET. Capital A Wealth Management LLC bought a new position in shares of Energy Transfer in the 4th quarter valued at about $26,000. Fourth Dimension Wealth LLC purchased a new stake in Energy Transfer during the fourth quarter valued at approximately $29,000. HWG Holdings LP bought a new stake in shares of Energy Transfer in the 1st quarter valued at approximately $38,000. N.E.W. Advisory Services LLC purchased a new position in shares of Energy Transfer in the 1st quarter worth approximately $40,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Energy Transfer during the 4th quarter valued at approximately $46,000. 38.22% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms recently weighed in on ET. Cowen initiated coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating on the stock. TD Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Mizuho upped their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Finally, Wells Fargo & Company decreased their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $22.58.
Check Out Our Latest Stock Report on ET
Insiders Place Their Bets
In other news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $18.48, for a total value of $25,299.12. Following the sale, the director owned 24,523 shares in the company, valued at $453,185.04. This trade represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.28% of the company's stock.
Energy Transfer Stock Performance
Shares of NYSE:ET traded down $0.34 during trading on Friday, hitting $17.28. 15,395,290 shares of the stock traded hands, compared to its average volume of 15,662,155. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.41. The company has a fifty day moving average price of $17.79 and a two-hundred day moving average price of $18.16. The company has a market cap of $59.30 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 0.93 and a beta of 0.83.
Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts' consensus estimates of $0.32. The firm had revenue of $19.24 billion for the quarter, compared to analysts' expectations of $24.07 billion. Energy Transfer had a return on equity of 11.07% and a net margin of 5.80%. The company's quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the firm earned $0.35 EPS. As a group, equities analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.
Energy Transfer Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th will be given a dividend of $0.33 per share. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date is Friday, August 8th. Energy Transfer's dividend payout ratio (DPR) is currently 102.33%.
Energy Transfer Profile
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Free Report)
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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