Energy Transfer LP (NYSE:ET) Shares Sold by Fortis Group Advisors LLC

Fortis Group Advisors LLC lessened its position in Energy Transfer LP (NYSE:ET - Free Report) by 41.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,915 shares of the pipeline company's stock after selling 14,325 shares during the quarter. Fortis Group Advisors LLC's holdings in Energy Transfer were worth $370,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Tectonic Advisors LLC raised its holdings in shares of Energy Transfer by 4.4% in the 1st quarter. Tectonic Advisors LLC now owns 550,711 shares of the pipeline company's stock valued at $10,238,000 after buying an additional 23,363 shares during the period. Prevail Innovative Wealth Advisors LLC raised its position in Energy Transfer by 316.9% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company's stock valued at $2,181,000 after purchasing an additional 89,173 shares in the last quarter. Firestone Capital Management acquired a new stake in Energy Transfer in the 1st quarter valued at about $189,000. Apollon Wealth Management LLC raised its position in Energy Transfer by 1.5% in the 1st quarter. Apollon Wealth Management LLC now owns 313,048 shares of the pipeline company's stock valued at $5,820,000 after purchasing an additional 4,771 shares in the last quarter. Finally, Private Capital Advisors Inc. raised its position in Energy Transfer by 2.1% in the 1st quarter. Private Capital Advisors Inc. now owns 841,602 shares of the pipeline company's stock valued at $15,645,000 after purchasing an additional 17,483 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company's stock.

Energy Transfer Stock Performance

Shares of ET stock traded down $0.06 during midday trading on Friday, hitting $17.48. The company had a trading volume of 13,360,062 shares, compared to its average volume of 15,648,274. The company's 50 day simple moving average is $17.82 and its 200 day simple moving average is $18.37. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The stock has a market cap of $59.99 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 0.91 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 earnings results 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. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The company had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same period last year, the business posted $0.32 EPS. The company's revenue was down 2.8% on a year-over-year basis. Research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were paid a $0.3275 dividend. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a dividend yield of 7.49%. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer's dividend payout ratio (DPR) is 99.24%.

Analysts Set New Price Targets

ET has been the topic of a number of analyst reports. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Wells Fargo & Company dropped their price objective on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. Morgan Stanley increased their price objective on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Finally, Mizuho increased their price objective on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Energy Transfer has an average rating of "Moderate Buy" and a consensus price target of $22.58.

Insider Buying and Selling 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 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 of the company's stock, valued at $453,185.04. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.28% of the company's stock.

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.