Energy Transfer LP $ET Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. decreased its position in shares of Energy Transfer LP (TXSE:ET) by 11.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 225,498 shares of the pipeline company’s stock after selling 28,445 shares during the period. Confluence Wealth Services Inc.’s holdings in Energy Transfer were worth $4,458,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ET. Arrow Investment Advisors LLC lifted its holdings in Energy Transfer by 4.9% during the second quarter. Arrow Investment Advisors LLC now owns 10,866 shares of the pipeline company’s stock valued at $208,000 after purchasing an additional 505 shares in the last quarter. Cypress Capital Management LLC WY boosted its position in shares of Energy Transfer by 3.9% in the second quarter. Cypress Capital Management LLC WY now owns 13,439 shares of the pipeline company’s stock worth $257,000 after purchasing an additional 509 shares during the period. Argent Trust Co increased its stake in shares of Energy Transfer by 2.1% in the second quarter. Argent Trust Co now owns 26,035 shares of the pipeline company’s stock worth $498,000 after purchasing an additional 529 shares in the last quarter. State of Wyoming increased its stake in shares of Energy Transfer by 2.5% in the second quarter. State of Wyoming now owns 22,822 shares of the pipeline company’s stock worth $436,000 after purchasing an additional 548 shares in the last quarter. Finally, Platform Technology Partners increased its stake in shares of Energy Transfer by 0.8% in the third quarter. Platform Technology Partners now owns 70,225 shares of the pipeline company’s stock worth $1,388,000 after purchasing an additional 549 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ET shares. Melius Research initiated coverage on shares of Energy Transfer in a research report on Tuesday, September 22nd. They set a “hold” rating and a $25.00 price objective on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. Jefferies Financial Group reiterated a “buy” rating and issued a $25.00 price target on shares of Energy Transfer in a research note on Wednesday, November 4th. TD Cowen reiterated a “buy” rating and issued a $25.00 price target (up from $24.00) on shares of Energy Transfer in a research note on Monday, August 10th. Finally, Wall Street Zen raised Energy Transfer from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $24.73.

Energy Transfer Trading Up 1.8%

Shares of ET opened at $19.43 on Wednesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $21.84. The company has a 50 day simple moving average of $20.52 and a two-hundred day simple moving average of $19.72. The firm has a market cap of $66.90 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 0.73 and a beta of 0.62.

Energy Transfer (TXSE:ET) last released its quarterly earnings data on Tuesday, November 3rd. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07). Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The company had revenue of $37.10 billion for the quarter, compared to the consensus estimate of $30.98 billion. During the same quarter in the previous year, the business earned $0.28 EPS. On average, equities analysts expect that Energy Transfer LP will post 1.73 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Friday, November 6th will be paid a dividend of $0.3425 per share. The ex-dividend date of this dividend is Friday, November 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.37 annualized dividend and a yield of 7.1%. Energy Transfer’s dividend payout ratio is 90.13%.

Insider Transactions at Energy Transfer

In related news, Director Kelcy Warren purchased 647,968 shares of Energy Transfer stock in a transaction on Wednesday, August 19th. The shares were bought at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the acquisition, the director owned 147,901,879 shares in the company, valued at approximately $3,144,393,947.54. The trade was a 0.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.28% of the company’s stock.

About Energy Transfer

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States. The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.