Atria Wealth Solutions Inc. Lowers Holdings in Energy Transfer LP $ET

Atria Wealth Solutions Inc. trimmed its position in Energy Transfer LP (NYSE:ET) by 50.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,058 shares of the pipeline company’s stock after selling 171,202 shares during the period. Atria Wealth Solutions Inc.’s holdings in Energy Transfer were worth $3,025,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ET. Ryan Investment Management Inc. acquired a new stake in Energy Transfer in the second quarter valued at $31,000. Vision Financial Markets LLC acquired a new stake in Energy Transfer in the first quarter valued at $33,000. HWG Holdings LP acquired a new stake in Energy Transfer in the first quarter valued at $38,000. Stone House Investment Management LLC acquired a new stake in Energy Transfer in the first quarter valued at $38,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Energy Transfer in the first quarter valued at $40,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kelcy L. Warren bought 1,350,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the purchase, the director owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.28% of the company’s stock.

Wall Street Analyst Weigh In

ET has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. TD Cowen assumed coverage on Energy Transfer in a report on Monday, July 7th. They issued a “buy” rating and a $22.00 target price for the company. Morgan Stanley cut their price target on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Finally, Scotiabank assumed coverage on Energy Transfer in a research note on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price target for the company. Fourteen 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Energy Transfer Trading Up 0.1%

NYSE:ET opened at $16.54 on Wednesday. The company has a market capitalization of $56.76 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.97 and a beta of 0.78. 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 LP has a 52-week low of $14.60 and a 52-week high of $21.45. The stock has a fifty day simple moving average of $17.29 and a 200-day simple moving average of $17.43.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm had revenue of $19.24 billion during the quarter, compared to the consensus estimate of $24.07 billion. During the same quarter in the previous year, the company posted $0.35 EPS. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is presently 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.