Energy Transfer LP $ET Shares Sold by Sowell Financial Services LLC

Sowell Financial Services LLC cut its stake in Energy Transfer LP (NYSE:ET) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 331,290 shares of the pipeline company’s stock after selling 2,825 shares during the quarter. Sowell Financial Services LLC’s holdings in Energy Transfer were worth $6,006,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new stake in shares of Energy Transfer during the fourth quarter worth about $26,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Energy Transfer during the fourth quarter worth about $29,000. Ryan Investment Management Inc. purchased a new stake in shares of Energy Transfer during the second quarter worth about $31,000. Vision Financial Markets LLC purchased a new stake in shares of Energy Transfer during the first quarter worth about $33,000. Finally, HWG Holdings LP purchased a new stake in shares of Energy Transfer during the first quarter worth about $38,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Energy Transfer news, Director Kelcy L. Warren acquired 1,350,000 shares of Energy Transfer stock in a transaction dated Wednesday, August 20th. The stock was acquired at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the transaction, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This represents a 1.99% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ET shares. Cowen started coverage on Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating on the stock. TD Cowen initiated coverage on Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating and a $22.00 price target for the company. Scotiabank initiated coverage on Energy Transfer in a research note on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 price target for the company. Wells Fargo & Company reiterated an “overweight” rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Finally, Morgan Stanley decreased 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. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.50.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $17.32 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The stock has a 50 day simple moving average of $17.54 and a 200-day simple moving average of $17.61. The company has a market cap of $59.45 billion, a PE ratio of 13.43, a P/E/G ratio of 1.02 and a beta of 0.85. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45.

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

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were given a dividend of $0.33 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a dividend yield of 7.6%. The ex-dividend date was Friday, August 8th. Energy Transfer’s 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.