Energy Transfer LP (NYSE:ET) Stock Holdings Trimmed by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC reduced its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 20.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 213,531 shares of the pipeline company's stock after selling 54,509 shares during the period. Kingsview Wealth Management LLC's holdings in Energy Transfer were worth $3,970,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC boosted its position in shares of Energy Transfer by 93.4% in the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock valued at $481,000 after acquiring an additional 11,844 shares during the period. Natixis Advisors LLC raised its stake in Energy Transfer by 44.5% in the fourth quarter. Natixis Advisors LLC now owns 27,243 shares of the pipeline company's stock valued at $534,000 after purchasing an additional 8,393 shares in the last quarter. Parallel Advisors LLC raised its stake in Energy Transfer by 26.0% in the fourth quarter. Parallel Advisors LLC now owns 19,990 shares of the pipeline company's stock valued at $392,000 after purchasing an additional 4,126 shares in the last quarter. Sandy Spring Bank raised its stake in Energy Transfer by 24.7% during the fourth quarter. Sandy Spring Bank now owns 5,550 shares of the pipeline company's stock worth $109,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in Energy Transfer during the fourth quarter worth about $6,920,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 transaction 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 represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.28% of the stock is currently owned by company insiders.

Energy Transfer Stock Performance

Shares of ET stock traded down $0.06 during trading hours on Friday, reaching $17.48. 13,360,062 shares of the company traded hands, compared to its average volume of 15,640,384. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The firm has a 50-day moving average price of $17.83 and a 200 day moving average price of $18.35. 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 market cap of $59.99 billion, a P/E ratio of 13.24, a P/E/G ratio of 0.90 and a beta of 0.79.

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

Energy Transfer Increases Dividend

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

Analysts Set New Price Targets

ET has been the subject of several recent research reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Wells Fargo & Company cut their price target on 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 increased their target price on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. JPMorgan Chase & Co. dropped their price objective on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Finally, Mizuho raised their target price on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $22.58.

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.