Crescent Grove Advisors LLC Has $3.99 Million Holdings in Energy Transfer LP (NYSE:ET)

Crescent Grove Advisors LLC lowered its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 41.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 214,659 shares of the pipeline company's stock after selling 153,382 shares during the period. Crescent Grove Advisors LLC's holdings in Energy Transfer were worth $3,991,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Montreal Can lifted its position in Energy Transfer by 12,090.8% during the fourth quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock worth $244,005,000 after acquiring an additional 12,353,441 shares during the last quarter. FMR LLC lifted its position in Energy Transfer by 15.7% during the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock worth $756,840,000 after acquiring an additional 5,254,721 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Energy Transfer during the fourth quarter worth approximately $79,113,000. Hsbc Holdings PLC acquired a new stake in Energy Transfer during the fourth quarter worth approximately $50,166,000. Finally, Westwood Holdings Group Inc. lifted its position in Energy Transfer by 18.2% during the fourth quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company's stock worth $319,929,000 after acquiring an additional 2,512,060 shares during the last quarter. Institutional investors own 38.22% of the company's stock.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the completion of the transaction, the director now directly owns 24,523 shares in the company, valued at $453,185.04. The trade was 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 at this link. Company insiders own 3.28% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada restated an "outperform" rating and set a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. UBS Group restated a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. JPMorgan Chase & Co. cut their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Morgan Stanley raised their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Finally, Citigroup reiterated a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $22.64.

Energy Transfer Price Performance

Shares of NYSE ET traded up $0.03 during midday trading on Friday, reaching $18.21. The company's stock had a trading volume of 13,728,939 shares, compared to its average volume of 15,771,643. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.92 and a current ratio of 1.12. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The business's 50 day moving average price is $17.58 and its two-hundred day moving average price is $18.50. The company has a market cap of $62.48 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.59 and a beta of 0.78.

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

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were given a dividend of $0.3275 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 7.20%. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer's payout ratio is currently 99.24%.

Energy Transfer Company Profile

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.