Energy Transfer LP (NYSE:ET) Shares Acquired by Independent Advisor Alliance

Independent Advisor Alliance lifted its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 10.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,527 shares of the pipeline company's stock after buying an additional 29,145 shares during the quarter. Independent Advisor Alliance's holdings in Energy Transfer were worth $5,903,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ET. United Advisor Group LLC lifted its position in Energy Transfer by 3.0% during the fourth quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company's stock worth $363,000 after buying an additional 534 shares during the period. Beam Wealth Advisors Inc. grew its holdings in Energy Transfer by 1.5% in the 1st quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company's stock valued at $742,000 after buying an additional 585 shares during the period. Morton Capital Management LLC CA increased its stake in shares of Energy Transfer by 1.3% during the 1st quarter. Morton Capital Management LLC CA now owns 46,382 shares of the pipeline company's stock valued at $862,000 after acquiring an additional 593 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in shares of Energy Transfer by 3.0% during the 4th quarter. OneDigital Investment Advisors LLC now owns 20,389 shares of the pipeline company's stock valued at $399,000 after acquiring an additional 596 shares during the last quarter. Finally, Summit Trail Advisors LLC boosted its position in shares of Energy Transfer by 1.1% in the first quarter. Summit Trail Advisors LLC now owns 58,181 shares of the pipeline company's stock worth $1,082,000 after acquiring an additional 649 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Insider Activity at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of the firm'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 sale, the director owned 24,523 shares of the company's stock, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.28% of the company's stock.

Energy Transfer Stock Performance

Energy Transfer stock opened at $17.28 on Monday. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. The company has a market capitalization of $59.32 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 0.90 and a beta of 0.83. The firm's fifty day moving average price is $17.79 and its 200 day moving average price is $18.10.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%. The company had revenue of $19.24 billion during the quarter, compared to the consensus estimate of $24.07 billion. During the same period last year, the firm earned $0.35 earnings per share. The company's revenue was down 7.2% on a year-over-year basis. On average, research analysts forecast 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 will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be paid a dividend of $0.33 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date is Friday, August 8th. This represents a $1.32 annualized dividend and a dividend yield of 7.6%. Energy Transfer's dividend payout ratio (DPR) is currently 102.33%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ET shares. Wells Fargo & Company dropped their price target on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. TD Cowen assumed coverage on Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating and a $22.00 target price on the stock. Mizuho lifted their target price on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Cowen assumed coverage on Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating for the company. Finally, JPMorgan Chase & Co. reduced their price objective on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $22.58.

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.

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