Plan Group Financial LLC Sells 58,432 Shares of Energy Transfer LP $ET

Plan Group Financial LLC trimmed its position in shares of Energy Transfer LP (NYSE:ET) by 36.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,639 shares of the pipeline company’s stock after selling 58,432 shares during the period. Plan Group Financial LLC’s holdings in Energy Transfer were worth $1,825,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ET. Chelsea Counsel Co. boosted its holdings in shares of Energy Transfer by 370.3% in the 2nd quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company’s stock valued at $1,705,000 after purchasing an additional 74,050 shares in the last quarter. Ariston Services Group lifted its position in shares of Energy Transfer by 126.7% during the 2nd quarter. Ariston Services Group now owns 100,683 shares of the pipeline company’s stock worth $1,825,000 after buying an additional 56,274 shares during the last quarter. Highland Capital Management LLC acquired a new stake in Energy Transfer in the second quarter valued at about $930,000. Focus Partners Wealth grew its position in Energy Transfer by 11.9% in the first quarter. Focus Partners Wealth now owns 275,698 shares of the pipeline company’s stock valued at $5,125,000 after acquiring an additional 29,404 shares during the last quarter. Finally, Northern Trust Corp grew its position in Energy Transfer by 223.5% in the first quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company’s stock valued at $19,883,000 after acquiring an additional 738,885 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Insider Activity at Energy Transfer

In related news, Director Kelcy L. Warren acquired 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were bought at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the purchase, the director directly owned 104,577,803 shares in the company, valued at $1,772,593,760.85. The trade was a 0.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.28% of the company’s stock.

Energy Transfer Trading Down 1.4%

ET opened at $16.60 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.41 and a quick ratio of 1.14. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The company’s 50 day moving average price is $16.78 and its two-hundred day moving average price is $17.36. The firm has a market capitalization of $56.98 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.01 and a beta of 0.65.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.06). Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The business had revenue of $19.95 billion for the quarter, compared to the consensus estimate of $21.84 billion. During the same period in the previous year, the business posted $0.32 EPS. Energy Transfer’s revenue was down 3.9% on a year-over-year basis. As a group, research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were issued a dividend of $0.3325 per share. This represents a $1.33 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend was Friday, November 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is presently 106.40%.

Analyst Ratings Changes

A number of research analysts have recently commented on ET shares. Barclays reissued an “overweight” rating and issued a $25.00 target price on shares of Energy Transfer in a report on Wednesday, October 15th. JPMorgan Chase & Co. dropped their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Jefferies Financial Group set a $17.00 target price on shares of Energy Transfer and gave the stock a “hold” rating in a research note on Tuesday, October 28th. Morgan Stanley lowered their price target on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, UBS Group reiterated a “buy” rating and issued a $22.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $21.62.

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.