Energy Transfer LP (NYSE:ET) Holdings Trimmed by Lindbrook Capital LLC

Lindbrook Capital LLC trimmed its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 25.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 98,489 shares of the pipeline company's stock after selling 34,477 shares during the period. Lindbrook Capital LLC's holdings in Energy Transfer were worth $1,831,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of Energy Transfer by 93.4% in the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock valued at $481,000 after purchasing an additional 11,844 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Energy Transfer by 44.5% in the 4th quarter. Natixis Advisors LLC now owns 27,243 shares of the pipeline company's stock valued at $534,000 after purchasing an additional 8,393 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Energy Transfer by 26.0% in the 4th quarter. Parallel Advisors LLC now owns 19,990 shares of the pipeline company's stock valued at $392,000 after purchasing an additional 4,126 shares during the last quarter. Sandy Spring Bank lifted its stake in shares of Energy Transfer by 24.7% in the 4th quarter. Sandy Spring Bank now owns 5,550 shares of the pipeline company's stock valued at $109,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Lee Danner & Bass Inc. acquired a new position in Energy Transfer during the 4th quarter worth $59,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ET has been the subject of a number of research analyst reports. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Mizuho upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Wells Fargo & Company decreased their price target on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. TD Cowen started coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating and a $22.00 price target on the stock. Finally, Cowen started coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $22.58.

Insider Transactions at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of the company'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 directly owned 24,523 shares of the company's stock, valued at approximately $453,185.04. This represents a 5.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.28% of the company's stock.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $17.48 on Friday. Energy Transfer LP has a twelve month low of $14.60 and a twelve month 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 50-day simple moving average of $17.83 and a two-hundred day simple moving average of $18.35. The stock has a market capitalization of $59.99 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 0.90 and a beta of 0.79.

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

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were given a $0.3275 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 7.49%. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer's dividend 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.

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