Cerity Partners LLC Has $6.24 Million Stock Holdings in Energy Transfer LP (NYSE:ET)

Cerity Partners LLC increased its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 8.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 335,749 shares of the pipeline company's stock after buying an additional 27,162 shares during the period. Cerity Partners LLC's holdings in Energy Transfer were worth $6,242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ET. Wedbush Securities Inc. raised its holdings in Energy Transfer by 44.2% during the fourth quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company's stock worth $2,650,000 after purchasing an additional 41,438 shares during the last quarter. Greenland Capital Management LP acquired a new position in Energy Transfer in the 4th quarter valued at about $2,253,000. Edmond DE Rothschild Holding S.A. acquired a new position in Energy Transfer in the 4th quarter valued at about $597,000. Bank of Montreal Can raised its holdings in Energy Transfer by 12,090.8% in the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock valued at $244,005,000 after acquiring an additional 12,353,441 shares during the last quarter. Finally, Strong Tower Advisory Services acquired a new position in Energy Transfer during the first quarter worth approximately $2,604,000. Hedge funds and other institutional investors own 38.22% of the company's stock.

Insider Buying and Selling at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of the business's stock in a transaction on 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 approximately $453,185.04. The trade was a 5.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.28% of the company's stock.

Analyst Ratings Changes

ET has been the subject of several research analyst reports. Cowen began coverage on Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating for the company. Mizuho lifted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Morgan Stanley lifted their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Wells Fargo & Company reduced their price objective on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Finally, TD Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a "buy" rating and a $22.00 price target for the company. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Energy Transfer has a consensus rating of "Moderate Buy" and an average price target of $22.58.

Energy Transfer Stock Up 0.4%

ET stock traded up $0.07 during mid-day trading on Thursday, hitting $17.51. The stock had a trading volume of 7,470,718 shares, compared to its average volume of 15,703,987. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.41. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The company has a fifty day moving average of $17.82 and a 200 day moving average of $18.39. The stock has a market capitalization of $60.07 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 0.55 and a beta of 0.79.

Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. The firm had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same period in the prior year, the business posted $0.32 earnings per share. The business's quarterly revenue was down 2.8% on a year-over-year basis. On average, equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were given a dividend of $0.3275 per share. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a dividend yield of 7.48%. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer's payout ratio is 99.24%.

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.