PFG Investments LLC Has $4.13 Million Position in Energy Transfer LP (NYSE:ET)

PFG Investments LLC reduced its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 222,144 shares of the pipeline company's stock after selling 23,544 shares during the period. PFG Investments LLC's holdings in Energy Transfer were worth $4,130,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisor Resource Council acquired a new stake in shares of Energy Transfer during the first quarter worth $738,000. Avior Wealth Management LLC increased its position in Energy Transfer by 30.2% during the first quarter. Avior Wealth Management LLC now owns 89,078 shares of the pipeline company's stock worth $1,656,000 after acquiring an additional 20,650 shares during the period. GFS Advisors LLC raised its stake in Energy Transfer by 16.7% in the 1st quarter. GFS Advisors LLC now owns 70,000 shares of the pipeline company's stock worth $1,301,000 after purchasing an additional 10,000 shares in the last quarter. United Advisor Group LLC raised its stake in Energy Transfer by 26.3% in the 1st quarter. United Advisor Group LLC now owns 23,419 shares of the pipeline company's stock worth $435,000 after purchasing an additional 4,879 shares in the last quarter. Finally, ORG Wealth Partners LLC grew its position in Energy Transfer by 11.9% during the first quarter. ORG Wealth Partners LLC now owns 408,712 shares of the pipeline company's stock worth $7,655,000 after buying an additional 43,472 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on ET shares. Wells Fargo & Company reduced their target price 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 price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Citigroup reissued a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. JPMorgan Chase & Co. decreased their target price on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Finally, Mizuho raised their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Energy Transfer presently has a consensus rating of "Moderate Buy" and an average target price of $22.64.

Insider Buying and Selling

In other Energy Transfer 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 transaction of $25,299.12. Following the transaction, the director now directly owns 24,523 shares of the company's stock, valued at approximately $453,185.04. The trade was a 5.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Price Performance

Shares of ET traded down $0.08 during midday trading on Friday, hitting $17.81. The company's stock had a trading volume of 15,895,570 shares, compared to its average volume of 15,680,861. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The company's fifty day simple moving average is $17.50 and its two-hundred day simple moving average is $18.54. 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 stock has a market capitalization of $61.10 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 0.58 and a beta of 0.78.

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 (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $22.28 billion. During the same quarter last year, the company posted $0.32 EPS. The company's revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities analysts expect 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. 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 7.36%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is currently 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.