Energy Transfer LP (NYSE:ET) Holdings Raised by Greatmark Investment Partners Inc.

Greatmark Investment Partners Inc. grew its position in Energy Transfer LP (NYSE:ET) by 15.7% in the first quarter, Holdings Channel.com reports. The fund owned 14,712 shares of the pipeline company’s stock after buying an additional 2,000 shares during the period. Greatmark Investment Partners Inc.’s holdings in Energy Transfer were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Oxbow Advisors LLC increased its holdings in shares of Energy Transfer by 0.7% in the 1st quarter. Oxbow Advisors LLC now owns 474,867 shares of the pipeline company’s stock valued at $8,828,000 after acquiring an additional 3,531 shares during the last quarter. Stephens Inc. AR increased its holdings in shares of Energy Transfer by 22.9% in the 1st quarter. Stephens Inc. AR now owns 1,476,041 shares of the pipeline company’s stock valued at $27,440,000 after acquiring an additional 274,753 shares during the last quarter. Platform Technology Partners increased its holdings in shares of Energy Transfer by 1.2% in the 1st quarter. Platform Technology Partners now owns 68,131 shares of the pipeline company’s stock valued at $1,267,000 after acquiring an additional 832 shares during the last quarter. Fort Sheridan Advisors LLC increased its holdings in shares of Energy Transfer by 3.9% in the 1st quarter. Fort Sheridan Advisors LLC now owns 386,664 shares of the pipeline company’s stock valued at $7,188,000 after acquiring an additional 14,421 shares during the last quarter. Finally, SkyOak Wealth LLC grew its stake in Energy Transfer by 17.6% during the 1st quarter. SkyOak Wealth LLC now owns 20,090 shares of the pipeline company’s stock worth $373,000 after buying an additional 3,000 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Trading Up 0.1%

Shares of ET stock opened at $17.45 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.92 and a current ratio of 1.12. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The stock has a fifty day moving average of $17.75 and a two-hundred day moving average of $18.42. The firm has a market capitalization of $59.88 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 0.55 and a beta of 0.79.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The company had revenue of $21.02 billion during the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. As a group, research analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were issued a $0.3275 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 9th. This represents a $1.31 annualized dividend and a dividend yield of 7.51%. Energy Transfer’s dividend payout ratio is 99.24%.

Analysts Set New Price Targets

ET has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Mizuho upped their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 20th. Royal Bank Of Canada restated an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Citigroup restated a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Finally, Morgan Stanley upped their price objective on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.58.

Insider Buying and Selling at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of the company’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the completion of the sale, the director owned 24,523 shares in the company, valued at $453,185.04. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 3.28% of the stock is currently owned by company insiders.

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.