Energy Transfer LP (NYSE:ET) Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. raised its position in Energy Transfer LP (NYSE:ET - Free Report) by 25.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 366,659 shares of the pipeline company's stock after buying an additional 75,111 shares during the period. D.A. Davidson & CO.'s holdings in Energy Transfer were worth $6,816,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ET. Mountain Hill Investment Partners Corp. purchased a new position in Energy Transfer in the 4th quarter valued at about $25,000. Capital A Wealth Management LLC purchased a new position in Energy Transfer in the 4th quarter valued at about $26,000. Fourth Dimension Wealth LLC purchased a new position in Energy Transfer in the 4th quarter valued at about $29,000. United Community Bank purchased a new position in Energy Transfer in the 4th quarter valued at about $35,000. Finally, Tortoise Investment Management LLC boosted its position in Energy Transfer by 111.1% in the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock valued at $37,000 after buying an additional 1,000 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup reissued a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Morgan Stanley upped their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Mizuho upped their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. cut their target price on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Finally, Wells Fargo & Company cut 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 note on Wednesday, May 7th. One investment 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.64.

Insiders Place Their Bets

In related news, Director James Richard Perry sold 1,369 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the sale, the director owned 24,523 shares in the company, valued at $453,185.04. This represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.28% of the stock is currently owned by company insiders.

Energy Transfer Stock Performance

ET traded up $0.04 on Friday, hitting $17.94. 7,052,899 shares of the company's stock were exchanged, compared to its average volume of 15,803,525. The firm has a market cap of $61.57 billion, a PE ratio of 13.59, a P/E/G ratio of 0.58 and a beta of 0.79. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The stock has a fifty day moving average of $17.66 and a two-hundred day moving average of $18.47. 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 (NYSE:ET - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The firm had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. Energy Transfer's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. On average, 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 disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were paid a dividend of $0.3275 per share. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.31 annualized dividend and a yield of 7.30%. Energy Transfer's dividend payout ratio is 99.24%.

Energy Transfer 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.