Avos Capital Management LLC Sells 65,332 Shares of Energy Transfer LP $ET

Avos Capital Management LLC cut its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 82.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,033 shares of the pipeline company's stock after selling 65,332 shares during the period. Energy Transfer accounts for 0.1% of Avos Capital Management LLC's portfolio, making the stock its 17th largest holding. Avos Capital Management LLC's holdings in Energy Transfer were worth $268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ET. Morgan Stanley lifted its position in shares of Energy Transfer by 41.6% in the fourth quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company's stock valued at $1,423,256,000 after buying an additional 25,366,594 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of Energy Transfer by 8.0% during the 4th quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company's stock worth $1,382,573,000 after acquiring an additional 6,192,066 shares during the last quarter. Mizuho Markets Americas LLC bought a new stake in Energy Transfer in the 1st quarter valued at $61,760,000. SCS Capital Management LLC raised its stake in Energy Transfer by 1,859.8% in the 2nd quarter. SCS Capital Management LLC now owns 1,942,908 shares of the pipeline company's stock valued at $37,148,000 after acquiring an additional 1,843,771 shares during the period. Finally, Invesco Ltd. lifted its holdings in Energy Transfer by 3.2% during the 3rd quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company's stock valued at $992,923,000 after purchasing an additional 1,773,042 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. Wall Street Zen upgraded Energy Transfer from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Barclays restated an "overweight" rating and issued a $24.00 price target (up from $23.00) on shares of Energy Transfer in a research note on Wednesday, August 5th. UBS Group restated a "buy" rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Finally, Morgan Stanley boosted their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Energy Transfer presently has an average rating of "Moderate Buy" and an average price target of $24.08.

Insider Buying and Selling

In other Energy Transfer news, Director James Richard Perry purchased 12,359 shares of the company's stock in a transaction dated Friday, August 7th. The stock was purchased at an average price of $20.23 per share, with a total value of $250,022.57. Following the completion of the purchase, the director owned 208,046 shares of the company's stock, valued at approximately $4,208,770.58. The trade was a 6.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kelcy L. Warren purchased 647,968 shares of the business's stock in a transaction dated Wednesday, August 19th. The shares were acquired at an average price of $21.26 per share, for a total transaction of $13,775,799.68. Following the acquisition, the director owned 147,901,879 shares of the company's stock, valued at $3,144,393,947.54. This trade represents a 0.44% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 1,012,359 shares of company stock worth $21,513,543 over the last three months. Insiders own 3.28% of the company's stock.

Energy Transfer Stock Performance

NYSE ET opened at $21.38 on Thursday. The firm's fifty day moving average price is $20.12 and its two-hundred day moving average price is $19.49. The stock has a market cap of $73.62 billion, a PE ratio of 14.54, a PEG ratio of 0.73 and a beta of 0.55. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $21.64.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.21. The company had revenue of $34.33 billion during the quarter, compared to analysts' expectations of $27.71 billion. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.Energy Transfer's revenue was up 78.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. On average, equities analysts expect that Energy Transfer LP will post 1.66 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were given a dividend of $0.34 per share. The ex-dividend date was Friday, August 7th. This represents a $1.36 annualized dividend and a yield of 6.4%. This is a boost from Energy Transfer's previous quarterly dividend of $0.34. Energy Transfer's dividend payout ratio is 92.52%.

Energy Transfer Company Profile

Energy Transfer NYSE: ET is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company's operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.

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