Energy Transfer LP (NYSE:ET) Shares Sold by Huntleigh Advisors Inc.

Huntleigh Advisors Inc. reduced its stake in shares of Energy Transfer LP (NYSE:ET) by 22.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 186,836 shares of the pipeline company’s stock after selling 52,919 shares during the quarter. Huntleigh Advisors Inc.’s holdings in Energy Transfer were worth $3,473,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mountain Hill Investment Partners Corp. bought a new position in Energy Transfer in the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new stake in Energy Transfer in the 4th quarter valued at approximately $26,000. Fourth Dimension Wealth LLC bought a new stake in Energy Transfer during the fourth quarter worth $29,000. United Community Bank acquired a new position in shares of Energy Transfer during the 4th quarter worth approximately $35,000. Finally, Tortoise Investment Management LLC lifted its stake in shares of Energy Transfer by 111.1% during the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

NYSE:ET opened at $17.94 on Friday. The firm has a 50-day moving average of $17.65 and a two-hundred day moving average of $18.47. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The stock has a market cap of $61.57 billion, a P/E ratio of 13.59, a PEG ratio of 0.58 and a beta of 0.79. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last announced its 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 company had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same period in the previous year, the firm earned $0.32 earnings per share. Energy Transfer’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, research analysts expect that Energy Transfer LP will post 1.46 earnings per share 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 given a $0.3275 dividend. This represents a $1.31 annualized dividend and a yield of 7.30%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 9th. Energy Transfer’s dividend payout ratio (DPR) is currently 99.24%.

Analysts Set New Price Targets

ET has been the subject of a number of research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. Mizuho increased their price objective on Energy Transfer from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, May 20th. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Wells Fargo & Company cut their target price on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Finally, Morgan Stanley boosted their target price on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.64.

Insider Buying and Selling

In other news, Director James Richard Perry sold 1,369 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $18.48, for a total transaction of $25,299.12. Following the sale, the director owned 24,523 shares in the company, valued at approximately $453,185.04. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.28% of the stock is currently owned by company insiders.

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.