Energy Transfer LP (NYSE:ET) Stock Holdings Reduced by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY cut its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 9.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,033,609 shares of the pipeline company's stock after selling 550,262 shares during the period. Energy Transfer makes up 3.0% of Miller Howard Investments Inc. NY's holdings, making the stock its 3rd biggest holding. Miller Howard Investments Inc. NY owned approximately 0.15% of Energy Transfer worth $93,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. Mountain Hill Investment Partners Corp. purchased a new position in Energy Transfer in the fourth quarter valued at $25,000. Capital A Wealth Management LLC purchased a new position in Energy Transfer in the fourth quarter valued at $26,000. Fourth Dimension Wealth LLC acquired a new stake in Energy Transfer in the fourth quarter valued at $29,000. United Community Bank acquired a new stake in Energy Transfer in the fourth quarter valued at $35,000. Finally, Tortoise Investment Management LLC lifted its holdings in Energy Transfer by 111.1% during the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock worth $37,000 after buying an additional 1,000 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction that occurred on Friday, June 13th. The stock was 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 in the company, valued at $453,185.04. The trade was a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.28% of the company's stock.

Energy Transfer Stock Performance

Shares of ET stock traded up $0.04 during midday trading on Thursday, hitting $17.94. The company had a trading volume of 7,052,899 shares, compared to its average volume of 15,773,436. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. The company's 50 day simple moving average is $17.65 and its 200 day simple moving average is $18.47. The stock has a market cap of $61.57 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 0.58 and a beta of 0.79.

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

Energy Transfer Increases Dividend

The firm also recently announced 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 a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 9th. This represents a $1.31 annualized dividend and a yield of 7.30%. Energy Transfer's payout ratio is presently 99.24%.

Analysts Set New Price Targets

ET has been the topic of several research analyst reports. Royal Bank Of Canada reissued an "outperform" rating and set a $23.00 target price on shares of Energy Transfer in a research report on Tuesday, March 25th. 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 report on Tuesday, March 25th. 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. Wells Fargo & Company dropped their target price on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Finally, Mizuho boosted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $22.64.

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.