Energy Transfer LP (NYSE:ET) Shares Sold by Diversify Advisory Services LLC

Diversify Advisory Services LLC lessened its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 92.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,937 shares of the pipeline company's stock after selling 847,878 shares during the quarter. Diversify Advisory Services LLC's holdings in Energy Transfer were worth $1,192,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $25,000. Capital A Wealth Management LLC purchased a new position in Energy Transfer in the fourth quarter worth approximately $26,000. Fourth Dimension Wealth LLC purchased a new position in Energy Transfer in the fourth quarter worth approximately $29,000. HWG Holdings LP purchased a new position in Energy Transfer in the first quarter worth approximately $38,000. Finally, Vermillion Wealth Management Inc. purchased a new position in Energy Transfer in the fourth quarter worth approximately $46,000. Institutional investors and hedge funds own 38.22% of the company's stock.

Analyst Ratings Changes

ET has been the subject of several recent analyst reports. Cowen initiated coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating for the company. Mizuho boosted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. 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 report on Wednesday, May 7th. Morgan Stanley boosted their price objective 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. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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 stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the completion of the sale, the director directly owned 24,523 shares in the company, valued at $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 at this link. Company insiders own 3.28% of the company's stock.

Energy Transfer Price Performance

ET stock traded down $0.06 during midday trading on Friday, reaching $17.48. 13,360,062 shares of the stock were exchanged, compared to its average volume of 15,640,384. The company has a fifty day moving average price of $17.83 and a 200 day moving average price of $18.36. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The stock has a market capitalization of $59.99 billion, a PE ratio of 13.24, a P/E/G ratio of 0.90 and a beta of 0.79. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92.

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 for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion during the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. Energy Transfer's revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 earnings per share. As a group, analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 7.49%. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer's payout ratio is currently 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.