Energy Transfer LP (NYSE:ET) Position Trimmed by Huntleigh Advisors Inc.

Huntleigh Advisors Inc. decreased its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 22.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 186,836 shares of the pipeline company's stock after selling 52,919 shares during the quarter. Huntleigh Advisors Inc.'s holdings in Energy Transfer were worth $3,473,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of ET. Bank of Montreal Can raised its stake in shares of Energy Transfer by 12,090.8% during the fourth quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock valued at $244,005,000 after purchasing an additional 12,353,441 shares in the last quarter. FMR LLC raised its stake in shares of Energy Transfer by 15.7% during the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock valued at $756,840,000 after purchasing an additional 5,254,721 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Energy Transfer during the fourth quarter valued at about $79,113,000. Hsbc Holdings PLC bought a new stake in shares of Energy Transfer during the fourth quarter valued at about $50,166,000. Finally, Westwood Holdings Group Inc. raised its stake in shares of Energy Transfer by 18.2% during the fourth quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company's stock valued at $319,929,000 after purchasing an additional 2,512,060 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Energy Transfer Trading Up 0.2%

ET traded up $0.04 during trading on Friday, reaching $17.94. The company had a trading volume of 7,052,899 shares, compared to its average volume of 15,773,436. The firm's 50-day simple moving average is $17.66 and its 200 day simple moving average is $18.47. The company 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 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 1.41, a quick ratio of 0.92 and a current ratio of 1.12.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The firm had revenue of $21.02 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. Equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were paid a $0.3275 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a yield of 7.30%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is currently 99.24%.

Insiders Place Their Bets

In related news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ET shares. Morgan Stanley lifted 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. Mizuho lifted their price objective 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. Wells Fargo & Company dropped their price target 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. JPMorgan Chase & Co. dropped their price target on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.64.

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.