Financial Counselors Inc. Raises Stock Holdings in Energy Transfer LP (NYSE:ET)

Financial Counselors Inc. increased its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 106.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,510 shares of the pipeline company's stock after acquiring an additional 18,286 shares during the period. Financial Counselors Inc.'s holdings in Energy Transfer were worth $660,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. purchased a new stake in Energy Transfer during the fourth quarter worth $25,000. Capital A Wealth Management LLC acquired a new position in shares of Energy Transfer in the fourth quarter worth $26,000. Fourth Dimension Wealth LLC acquired a new position in shares of Energy Transfer in the fourth quarter worth $29,000. Tortoise Investment Management LLC raised its holdings in shares of Energy Transfer by 111.1% in the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock worth $37,000 after acquiring an additional 1,000 shares during the last quarter. Finally, HWG Holdings LP acquired a new position in Energy Transfer in the first quarter valued at $38,000. Institutional investors and hedge funds own 38.22% of the company's stock.

Wall Street Analyst Weigh In

ET has been the subject of several analyst reports. Mizuho upped their target price on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. Citigroup reissued a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Morgan Stanley boosted their price target on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. TD Cowen assumed coverage on Energy Transfer in a research report on Monday. They set a "buy" rating and a $22.00 price target for the company. Finally, Wells Fargo & Company lowered their price target on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.58.

Insider Buying and Selling at Energy Transfer

In related news, Director James Richard Perry sold 1,369 shares of the 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 completion of the transaction, the director owned 24,523 shares of the company's stock, valued at approximately $453,185.04. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.28% of the stock is owned by insiders.

Energy Transfer Stock Up 0.1%

Shares of NYSE ET traded up $0.01 on Friday, hitting $17.45. The company had a trading volume of 9,430,584 shares, compared to its average volume of 15,795,474. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The business has a 50 day moving average of $17.75 and a two-hundred day moving average of $18.43. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $59.88 billion, a P/E ratio of 13.22, a PEG ratio of 0.55 and a beta of 0.79.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results 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. 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 during the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter in the prior year, the business earned $0.32 earnings per share. The company's revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts forecast 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. Stockholders of record on Friday, May 9th were given a $0.3275 dividend. This is an increase 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 dividend yield of 7.51%. Energy Transfer's dividend payout ratio is presently 99.24%.

Energy Transfer Company 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.