Energy Transfer LP $ET Shares Sold by Rossby Financial LCC

Rossby Financial LCC cut its holdings in shares of Energy Transfer LP (NYSE:ET) by 10.0% in the 2nd quarter, Holdings Channel reports. The firm owned 17,972 shares of the pipeline company’s stock after selling 2,000 shares during the period. Rossby Financial LCC’s holdings in Energy Transfer were worth $326,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Chelsea Counsel Co. lifted its stake in Energy Transfer by 370.3% during the second quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company’s stock valued at $1,705,000 after purchasing an additional 74,050 shares during the last quarter. Prevail Innovative Wealth Advisors LLC lifted its stake in Energy Transfer by 316.9% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company’s stock valued at $2,181,000 after purchasing an additional 89,173 shares during the last quarter. Ariston Services Group raised its holdings in shares of Energy Transfer by 126.7% during the second quarter. Ariston Services Group now owns 100,683 shares of the pipeline company’s stock valued at $1,825,000 after acquiring an additional 56,274 shares during the period. Highland Capital Management LLC acquired a new stake in shares of Energy Transfer during the second quarter valued at approximately $930,000. Finally, Northern Trust Corp raised its holdings in shares of Energy Transfer by 223.5% during the first quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company’s stock valued at $19,883,000 after acquiring an additional 738,885 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren purchased 1,350,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were bought at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the purchase, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.28% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ET. Wells Fargo & Company restated an “overweight” rating and set a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. Jefferies Financial Group set a $17.00 price target on shares of Energy Transfer and gave the company a “hold” rating in a report on Tuesday. TD Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Barclays restated an “overweight” rating and set a $25.00 price target on shares of Energy Transfer in a report on Wednesday, October 15th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.23.

Energy Transfer Stock Up 0.4%

Energy Transfer stock opened at $16.99 on Wednesday. The firm has a market cap of $58.30 billion, a PE ratio of 13.17, a P/E/G ratio of 1.01 and a beta of 0.78. 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 firm’s 50 day moving average price is $17.16 and its two-hundred day moving average price is $17.42. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. On average, research analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

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.