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Stratos Wealth Partners LTD. Sells 55,423 Shares of Energy Transfer LP (NYSE:ET)

Energy Transfer logo with Energy background

Stratos Wealth Partners LTD. lessened its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 17.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 257,349 shares of the pipeline company's stock after selling 55,423 shares during the period. Stratos Wealth Partners LTD.'s holdings in Energy Transfer were worth $4,784,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ET. Bank of Montreal Can raised its position in Energy Transfer by 12,090.8% during the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock worth $244,005,000 after purchasing an additional 12,353,441 shares during the last quarter. FMR LLC raised its position in shares of Energy Transfer by 15.7% during the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock worth $756,840,000 after acquiring an additional 5,254,721 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of Energy Transfer in the fourth quarter worth approximately $79,113,000. Hsbc Holdings PLC bought a new stake in Energy Transfer in the fourth quarter valued at approximately $50,166,000. Finally, Westwood Holdings Group Inc. increased its position in Energy Transfer by 18.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company's stock valued at $319,929,000 after purchasing an additional 2,512,060 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ET shares. JPMorgan Chase & Co. dropped their price target 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. Wells Fargo & Company cut their price target on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Cowen initiated coverage on Energy Transfer in a research report on Monday. They issued a "buy" rating for the company. Royal Bank Of Canada restated an "outperform" rating and set a $23.00 target price on shares of Energy Transfer in a research report on Tuesday, March 25th. Finally, Morgan Stanley raised 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. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.58.

Check Out Our Latest Stock Report on ET

Insider Buying and Selling

In other news, Director James Richard Perry sold 1,369 shares of the firm's stock in a transaction that occurred 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 owned 24,523 shares in the company, valued at $453,185.04. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.28% of the company's stock.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $17.63 on Thursday. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The stock's 50 day moving average is $17.71 and its 200-day moving average is $18.45. 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 $60.50 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.58 and a beta of 0.79.

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 the consensus estimate of $0.33 by $0.03. The firm had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. The business's revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 earnings per share. Sell-side analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared 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 7.43%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is 99.24%.

Energy Transfer Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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