Janney Montgomery Scott LLC lowered its holdings in shares of Energy Transfer LP (NYSE:ET – Free Report) by 4.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 345,786 shares of the pipeline company’s stock after selling 16,015 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Energy Transfer were worth $4,312,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the business. Country Club Bank GFN lifted its stake in Energy Transfer by 7.5% in the 1st quarter. Country Club Bank GFN now owns 11,337 shares of the pipeline company’s stock valued at $141,000 after buying an additional 794 shares in the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of Energy Transfer by 5.2% in the fourth quarter. Rehmann Capital Advisory Group now owns 16,213 shares of the pipeline company’s stock worth $192,000 after acquiring an additional 801 shares during the last quarter. FAS Wealth Partners increased its position in shares of Energy Transfer by 4.1% during the fourth quarter. FAS Wealth Partners now owns 20,509 shares of the pipeline company’s stock worth $243,000 after purchasing an additional 802 shares in the last quarter. Argent Advisors Inc. raised its stake in Energy Transfer by 1.2% in the 1st quarter. Argent Advisors Inc. now owns 68,093 shares of the pipeline company’s stock valued at $849,000 after purchasing an additional 825 shares during the last quarter. Finally, Good Life Advisors LLC lifted its holdings in Energy Transfer by 7.1% in the 4th quarter. Good Life Advisors LLC now owns 12,562 shares of the pipeline company’s stock valued at $149,000 after purchasing an additional 828 shares in the last quarter. 34.47% of the stock is owned by institutional investors and hedge funds.
Energy Transfer Stock Down 0.4 %
ET stock opened at $13.15 on Monday. The firm has a market cap of $41.31 billion, a PE ratio of 9.81 and a beta of 1.70. Energy Transfer LP has a one year low of $10.02 and a one year high of $13.67. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.92 and a current ratio of 1.12. The firm’s 50 day moving average price is $12.78 and its 200-day moving average price is $12.70.
Energy Transfer Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Monday, May 8th were given a dividend of $0.308 per share. The ex-dividend date was Friday, May 5th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 9.37%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.31. Energy Transfer’s dividend payout ratio (DPR) is presently 91.79%.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on ET. Barclays increased their target price on shares of Energy Transfer from $15.00 to $16.00 in a research report on Tuesday, April 18th. Mizuho raised their target price on shares of Energy Transfer from $17.00 to $18.00 in a research note on Tuesday, July 18th. Finally, Morgan Stanley restated an “overweight” rating and issued a $17.00 price target on shares of Energy Transfer in a research report on Thursday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $16.57.
Insider Activity at Energy Transfer
In other news, EVP Bradford D. Whitehurst bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were purchased at an average price of $12.43 per share, with a total value of $124,300.00. Following the purchase, the executive vice president now owns 1,303,055 shares in the company, valued at $16,196,973.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Kelcy L. Warren acquired 1,000,000 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were acquired at an average price of $12.49 per share, with a total value of $12,490,000.00. Following the completion of the transaction, the chairman now owns 60,078,477 shares of the company’s stock, valued at $750,380,177.73. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Bradford D. Whitehurst acquired 10,000 shares of Energy Transfer stock in a transaction dated Tuesday, May 30th. The stock was bought at an average price of $12.43 per share, for a total transaction of $124,300.00. Following the completion of the purchase, the executive vice president now owns 1,303,055 shares of the company’s stock, valued at approximately $16,196,973.65. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 1,510,000 shares of company stock worth $18,749,300. Insiders own 3.28% of the company’s stock.
Energy Transfer Profile
Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,945 miles of interstate natural gas pipeline.
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