Energy Transfer LP $ET Shares Sold by Wealthstar Advisors LLC

Wealthstar Advisors LLC reduced its stake in shares of Energy Transfer LP (NYSE:ET) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,528 shares of the pipeline company’s stock after selling 1,702 shares during the period. Wealthstar Advisors LLC’s holdings in Energy Transfer were worth $771,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ET. Ryan Investment Management Inc. acquired a new position in shares of Energy Transfer during the 2nd quarter worth approximately $31,000. Vision Financial Markets LLC acquired a new position in shares of Energy Transfer during the 1st quarter worth approximately $33,000. HWG Holdings LP acquired a new position in shares of Energy Transfer during the 1st quarter worth approximately $38,000. Stone House Investment Management LLC acquired a new position in shares of Energy Transfer during the 1st quarter worth approximately $38,000. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Energy Transfer during the 1st quarter worth approximately $40,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren acquired 1,350,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the transaction, the director owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. The trade was a 1.99% increase in their ownership of the stock. The acquisition 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.

Energy Transfer Stock Down 0.3%

Energy Transfer stock opened at $16.62 on Friday. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The stock’s fifty day simple moving average is $17.37 and its 200-day simple moving average is $17.49. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $57.05 billion, a P/E ratio of 12.88, a P/E/G ratio of 0.98 and a beta of 0.78.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. During the same quarter in the prior year, the company earned $0.35 earnings per share. The company’s revenue was down 7.2% on a year-over-year basis. 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were given a dividend of $0.33 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend was Friday, August 8th. Energy Transfer’s dividend payout ratio is currently 102.33%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Morgan Stanley lowered their target price on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Cowen assumed coverage on Energy Transfer in a report on Monday, July 7th. They issued a “buy” rating on the stock. Scotiabank assumed coverage on Energy Transfer in a report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 price objective on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Fourteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.50.

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.