IFP Advisors Inc Sells 416,402 Shares of Energy Transfer LP (NYSE:ET)

IFP Advisors Inc trimmed its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 65.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 218,067 shares of the pipeline company's stock after selling 416,402 shares during the quarter. IFP Advisors Inc's holdings in Energy Transfer were worth $4,054,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ET. Mountain Hill Investment Partners Corp. bought a new stake in Energy Transfer during the 4th quarter valued at $25,000. Capital A Wealth Management LLC bought a new stake in Energy Transfer during the 4th quarter valued at $26,000. Fourth Dimension Wealth LLC bought a new stake in Energy Transfer during the 4th quarter valued at $29,000. HWG Holdings LP bought a new stake in Energy Transfer during the 1st quarter valued at $38,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Energy Transfer during the 4th quarter valued at $46,000. 38.22% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director James Richard Perry sold 1,369 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the sale, the director directly owned 24,523 shares of the company's stock, valued at approximately $453,185.04. This 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. Company insiders own 3.28% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on ET. Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a "buy" rating for the company. Royal Bank Of Canada restated an "outperform" rating and issued a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. TD Cowen started coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 price objective for the company. Citigroup restated a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Finally, Morgan Stanley upped their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $22.58.

Energy Transfer Stock Down 0.3%

Shares of Energy Transfer stock opened at $17.48 on Monday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. The company has a 50-day moving average of $17.83 and a 200 day moving average of $18.34. The firm has a market cap of $59.99 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 0.90 and a beta of 0.79. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. The company had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same period in the prior year, the firm posted $0.32 EPS. Energy Transfer's revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were given a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a yield of 7.49%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 9th. Energy Transfer's dividend payout ratio is 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.

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