Seaview Investment Managers LLC Sells 146,429 Shares of Energy Transfer LP $ET

Seaview Investment Managers LLC cut its position in shares of Energy Transfer LP (NYSE:ET) by 34.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 279,129 shares of the pipeline company’s stock after selling 146,429 shares during the period. Energy Transfer comprises 1.8% of Seaview Investment Managers LLC’s portfolio, making the stock its 27th biggest position. Seaview Investment Managers LLC’s holdings in Energy Transfer were worth $4,790,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Energy Transfer by 1.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company’s stock worth $723,000 after acquiring an additional 565 shares during the last quarter. Bogart Wealth LLC grew its stake in shares of Energy Transfer by 1.9% in the second quarter. Bogart Wealth LLC now owns 32,788 shares of the pipeline company’s stock worth $594,000 after acquiring an additional 604 shares during the period. Quantum Private Wealth LLC raised its stake in shares of Energy Transfer by 0.5% in the second quarter. Quantum Private Wealth LLC now owns 116,515 shares of the pipeline company’s stock worth $2,112,000 after buying an additional 627 shares during the period. HBK Sorce Advisory LLC increased its holdings in Energy Transfer by 3.4% in the 3rd quarter. HBK Sorce Advisory LLC now owns 19,018 shares of the pipeline company’s stock valued at $321,000 after acquiring an additional 628 shares during the last quarter. Finally, Magnus Financial Group LLC grew its position in Energy Transfer by 2.0% in the third quarter. Magnus Financial Group LLC now owns 31,430 shares of the pipeline company’s stock worth $539,000 after acquiring an additional 629 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren bought 1,000,000 shares of Energy Transfer stock in a transaction dated Wednesday, November 19th. The stock was acquired at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the acquisition, the director owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Trading Up 0.4%

Shares of Energy Transfer stock opened at $18.12 on Wednesday. The firm has a market cap of $62.21 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 0.93 and a beta of 0.66. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 1.50. The business has a 50-day moving average price of $17.11 and a 200-day moving average price of $17.12. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $20.51.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Friday, February 6th will be paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 7.4%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, February 6th. Energy Transfer’s payout ratio is presently 107.20%.

Analyst Upgrades and Downgrades

ET has been the topic of a number of recent analyst reports. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Jefferies Financial Group set a $17.00 price target on shares of Energy Transfer and gave the stock a “hold” rating in a research report on Tuesday, October 28th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research report on Wednesday, January 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. Finally, Morgan Stanley decreased their target price on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, December 2nd. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.