Autumn Glory Partners LLC Sells 1,613 Shares of Energy Transfer LP $ET

Autumn Glory Partners LLC cut its holdings in Energy Transfer LP (NYSE:ET) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,225 shares of the pipeline company’s stock after selling 1,613 shares during the period. Autumn Glory Partners LLC’s holdings in Energy Transfer were worth $1,581,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Valeo Financial Advisors LLC boosted its holdings in Energy Transfer by 2.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 186,126 shares of the pipeline company’s stock worth $3,374,000 after buying an additional 5,200 shares during the period. DAVENPORT & Co LLC boosted its holdings in Energy Transfer by 1.5% in the 2nd quarter. DAVENPORT & Co LLC now owns 110,838 shares of the pipeline company’s stock worth $2,009,000 after buying an additional 1,687 shares during the period. Olistico Wealth LLC boosted its holdings in Energy Transfer by 2.8% in the 2nd quarter. Olistico Wealth LLC now owns 57,686 shares of the pipeline company’s stock worth $1,046,000 after buying an additional 1,563 shares during the period. Highland Capital Management LLC purchased a new stake in Energy Transfer in the 2nd quarter worth approximately $930,000. Finally, USAdvisors Wealth Management LLC boosted its holdings in Energy Transfer by 14.8% in the 2nd quarter. USAdvisors Wealth Management LLC now owns 15,500 shares of the pipeline company’s stock valued at $281,000 after purchasing an additional 2,000 shares during the period. 38.22% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Kelcy L. Warren acquired 1,350,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were purchased at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the transaction, the director owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. The trade was a 1.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.28% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on ET. Morgan Stanley cut their price target on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a “buy” rating for the company. TD Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a “buy” rating and a $22.00 price target for the company. Wells Fargo & Company reissued an “overweight” rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a report on Saturday, September 27th. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $16.83 on Monday. The stock has a market cap of $57.78 billion, a PE ratio of 13.05, a PEG ratio of 0.99 and a beta of 0.78. The company’s fifty day moving average is $17.47 and its 200 day moving average is $17.53. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $19.24 billion for the quarter, compared to analysts’ expectations of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm’s revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 EPS. Research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date was Friday, August 8th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is 102.33%.

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.