Legacy Advisors LLC Sells 3,192 Shares of Energy Transfer LP (NYSE:ET)

Legacy Advisors LLC lessened its holdings in shares of Energy Transfer LP (NYSE:ET) by 4.3% during the 1st quarter, Holdings Channel reports. The firm owned 70,512 shares of the pipeline company’s stock after selling 3,192 shares during the period. Legacy Advisors LLC’s holdings in Energy Transfer were worth $1,311,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 24,523 shares in the company, valued at approximately $453,185.04. This represents a 5.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Wells Fargo & Company reduced their price objective 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. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, Morgan Stanley lifted their price objective 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 ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.64.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $17.65 on Tuesday. The stock has a market cap of $60.57 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 0.58 and a beta of 0.78. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.92 and a current ratio of 1.12. The stock has a 50 day moving average price of $17.52 and a 200-day moving average price of $18.52. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The firm had revenue of $21.02 billion during the quarter, compared to analysts’ expectations of $22.28 billion. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. Equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed 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 7.42%. The ex-dividend date of this dividend was Friday, May 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is 99.24%.

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.