Energy Transfer LP (NYSE:ET) Holdings Trimmed by Choreo LLC

Choreo LLC lowered its position in shares of Energy Transfer LP (NYSE:ET) by 3.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,444 shares of the pipeline company’s stock after selling 2,332 shares during the quarter. Choreo LLC’s holdings in Energy Transfer were worth $1,086,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ET. Alps Advisors Inc. raised its holdings in Energy Transfer by 12.9% during the 1st quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company’s stock worth $1,400,831,000 after buying an additional 8,613,645 shares during the period. FMR LLC raised its holdings in Energy Transfer by 15.7% during the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock worth $756,840,000 after buying an additional 5,254,721 shares during the period. Kayne Anderson Capital Advisors LP raised its holdings in Energy Transfer by 0.8% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company’s stock worth $449,329,000 after buying an additional 182,705 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Energy Transfer by 5.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company’s stock worth $387,416,000 after buying an additional 1,093,381 shares during the period. Finally, Westwood Holdings Group Inc. raised its holdings in Energy Transfer by 18.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company’s stock worth $319,929,000 after buying an additional 2,512,060 shares during the period. Institutional investors own 38.22% of the company’s stock.

Insider Activity

In other news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $18.48, for a total transaction of $25,299.12. Following the completion of the sale, the director directly owned 24,523 shares in the company, valued at $453,185.04. The trade was 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 link. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Stock Up 0.0%

Shares of Energy Transfer stock opened at $17.73 on Friday. The firm has a market cap of $60.83 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 0.92 and a beta of 0.79. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The stock has a 50-day simple moving average of $17.79 and a 200-day simple moving average of $18.29.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion during the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. On average, equities research analysts expect 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 will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 7.45%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, August 8th. Energy Transfer’s payout ratio is currently 99.24%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ET shares. Cowen started coverage on Energy Transfer in a report on Monday, July 7th. They set a “buy” rating on the stock. TD Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They set a “buy” rating and a $22.00 price objective on the stock. Mizuho increased their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 20th. Wells Fargo & Company decreased their price objective on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. decreased their price objective on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and an average target price of $22.58.

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.