Oppenheimer & Co. Inc. Sells 75,542 Shares of Energy Transfer LP (NYSE:ET)

Oppenheimer & Co. Inc. lowered its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 7.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 924,152 shares of the pipeline company's stock after selling 75,542 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Energy Transfer were worth $17,180,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. United Advisor Group LLC lifted its stake in shares of Energy Transfer by 3.0% in the 4th quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company's stock valued at $363,000 after purchasing an additional 534 shares during the last quarter. Wealthspire Advisors LLC increased its position in shares of Energy Transfer by 0.4% during the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company's stock valued at $2,551,000 after purchasing an additional 535 shares during the last quarter. Cannell & Spears LLC raised its holdings in Energy Transfer by 0.4% during the 4th quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company's stock valued at $2,657,000 after buying an additional 546 shares during the period. Capital Advisors Ltd. LLC boosted its stake in Energy Transfer by 18.0% during the fourth quarter. Capital Advisors Ltd. LLC now owns 3,649 shares of the pipeline company's stock worth $71,000 after buying an additional 556 shares during the period. Finally, Morton Capital Management LLC CA raised its stake in shares of Energy Transfer by 1.3% in the first quarter. Morton Capital Management LLC CA now owns 46,382 shares of the pipeline company's stock valued at $862,000 after acquiring an additional 593 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Insider Transactions at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction 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 transaction, the director now directly owns 24,523 shares in the company, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their position. The sale was disclosed in a legal filing 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 research firms recently weighed in on ET. JPMorgan Chase & Co. reduced their price objective 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. Royal Bank Of Canada restated an "outperform" rating and set a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Morgan Stanley increased their target price on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Finally, Wells Fargo & Company lowered their target price on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Energy Transfer presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.64.

Energy Transfer Price Performance

ET opened at $17.81 on Monday. The company has a market capitalization of $61.10 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.58 and a beta of 0.78. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.41. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The business's fifty day simple moving average is $17.50 and its 200-day simple moving average is $18.53.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $22.28 billion. During the same period in the prior year, the firm earned $0.32 earnings per share. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were given a $0.3275 dividend. This represents a $1.31 annualized dividend and a dividend yield of 7.36%. The ex-dividend date was Friday, May 9th. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio is presently 99.24%.

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.

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