Apollon Wealth Management LLC lowered its holdings in shares of Energy Transfer LP (NYSE:ET – Free Report) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 301,061 shares of the pipeline company’s stock after selling 11,987 shares during the quarter. Apollon Wealth Management LLC’s holdings in Energy Transfer were worth $5,458,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of ET. Ryan Investment Management Inc. bought a new stake in Energy Transfer during the 2nd quarter valued at $31,000. Vision Financial Markets LLC bought a new stake in Energy Transfer during the 1st quarter valued at $33,000. HWG Holdings LP bought a new stake in Energy Transfer during the 1st quarter valued at $38,000. Stone House Investment Management LLC bought a new stake in Energy Transfer during the 1st quarter valued at $38,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Energy Transfer during the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.
Energy Transfer Stock Down 1.9%
Energy Transfer stock opened at $16.30 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. The business’s 50-day simple moving average is $17.34 and its two-hundred day simple moving average is $17.46. The company has a market cap of $55.95 billion, a PE ratio of 12.64, a PEG ratio of 0.96 and a beta of 0.78. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45.
Energy Transfer Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 8.1%. 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 (DPR) is presently 102.33%.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on ET shares. Wells Fargo & Company reaffirmed an “overweight” rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Scotiabank started coverage on Energy Transfer in a research report on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 target price for the company. TD Cowen started coverage on Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating and a $22.00 price objective for the company. Cowen started coverage on Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday. Fourteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.50.
Read Our Latest Analysis on Energy Transfer
Insiders Place Their Bets
In other news, Director Kelcy L. Warren purchased 1,350,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the purchase, the director owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.28% of the company’s stock.
Energy Transfer 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.
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