Inspire Advisors LLC Sells 1,107 Shares of Energy Transfer LP (NYSE:ET)

Inspire Advisors LLC cut its position in shares of Energy Transfer LP (NYSE:ET) by 4.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,822 shares of the pipeline company’s stock after selling 1,107 shares during the quarter. Inspire Advisors LLC’s holdings in Energy Transfer were worth $366,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. LRI Investments LLC bought a new stake in shares of Energy Transfer in the 1st quarter valued at $29,000. HWG Holdings LP acquired a new position in shares of Energy Transfer during the second quarter valued at about $33,000. Sugarloaf Wealth Management LLC boosted its position in shares of Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Energy Transfer in the 2nd quarter valued at about $42,000. Finally, Hudson Edge Investment Partners Inc. bought a new stake in Energy Transfer in the 2nd quarter valued at about $42,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

NYSE ET opened at $16.41 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The company has a fifty day moving average price of $16.11 and a 200-day moving average price of $15.95. Energy Transfer LP has a 1 year low of $12.90 and a 1 year high of $16.64. The firm has a market cap of $55.30 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. As a group, equities research analysts predict that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 7.80%. The ex-dividend date was Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 117.43%.

Analyst Ratings Changes

A number of equities research analysts have commented on ET shares. Bank of America started coverage on Energy Transfer in a research note on Thursday. They issued a “buy” rating and a $20.00 price objective for the company. UBS Group upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Royal Bank of Canada boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $20.00.

Insider Activity

In related news, CEO Thomas E. Long purchased 20,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $15.68 per share, with a total value of $313,600.00. Following the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 3,040,000 shares of company stock valued at $47,667,200 in the last ninety days. 3.28% of the stock is currently owned by insiders.

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.