Concord Wealth Partners Has $143,000 Stock Position in Energy Transfer LP (NYSE:ET)

Concord Wealth Partners lessened its holdings in shares of Energy Transfer LP (NYSE:ET) by 37.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,680 shares of the pipeline company’s stock after selling 4,608 shares during the period. Concord Wealth Partners’ holdings in Energy Transfer were worth $143,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after acquiring an additional 11,844 shares during the last quarter. Natixis Advisors LLC raised its holdings in Energy Transfer by 44.5% in the 4th quarter. Natixis Advisors LLC now owns 27,243 shares of the pipeline company’s stock valued at $534,000 after buying an additional 8,393 shares during the period. Parallel Advisors LLC boosted its holdings in Energy Transfer by 26.0% in the fourth quarter. Parallel Advisors LLC now owns 19,990 shares of the pipeline company’s stock valued at $392,000 after purchasing an additional 4,126 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Energy Transfer by 7.8% during the fourth quarter. Signaturefd LLC now owns 29,564 shares of the pipeline company’s stock valued at $579,000 after acquiring an additional 2,145 shares during the last quarter. Finally, GM Advisory Group LLC boosted its stake in Energy Transfer by 14.0% in the 4th quarter. GM Advisory Group LLC now owns 26,468 shares of the pipeline company’s stock worth $519,000 after buying an additional 3,259 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ET. Morgan Stanley boosted 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. Wells Fargo & Company cut their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. Cowen initiated coverage on Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating for the company. Citigroup restated a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, May 19th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.58.

Energy Transfer Price Performance

NYSE ET opened at $17.54 on Friday. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. The company has a 50 day simple moving average of $17.82 and a 200-day simple moving average of $18.37. The firm has a market capitalization of $60.18 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 0.57 and a beta of 0.79.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share 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 the consensus estimate of $22.28 billion. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The business’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 EPS. Equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were given a dividend of $0.3275 per share. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.47%. The ex-dividend date of this dividend was Friday, May 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is currently 99.24%.

Insiders Place Their Bets

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the stock in a transaction that occurred 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 owned 24,523 shares in the company, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.28% of the stock is owned by corporate insiders.

About Energy Transfer

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.