Energy Transfer LP (NYSE:ET) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lessened its holdings in Energy Transfer LP (NYSE:ET) by 13.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 257,988 shares of the pipeline company’s stock after selling 40,789 shares during the period. Advisors Asset Management Inc.’s holdings in Energy Transfer were worth $4,141,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Strategy Asset Managers LLC acquired a new position in Energy Transfer during the third quarter worth $299,000. Segall Bryant & Hamill LLC acquired a new position in shares of Energy Transfer during the 3rd quarter worth about $2,656,000. Prospera Private Wealth LLC raised its position in shares of Energy Transfer by 1,680.2% during the 3rd quarter. Prospera Private Wealth LLC now owns 774,194 shares of the pipeline company’s stock worth $12,426,000 after purchasing an additional 730,706 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Energy Transfer by 45.5% in the 3rd quarter. Avior Wealth Management LLC now owns 60,868 shares of the pipeline company’s stock worth $977,000 after buying an additional 19,045 shares during the last quarter. Finally, Prospera Financial Services Inc increased its stake in Energy Transfer by 10.3% during the 3rd quarter. Prospera Financial Services Inc now owns 345,963 shares of the pipeline company’s stock worth $5,553,000 after buying an additional 32,250 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.5 %

Shares of ET opened at $19.06 on Friday. The stock has a fifty day simple moving average of $16.66 and a two-hundred day simple moving average of $16.18. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $65.26 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 0.55 and a beta of 1.66. Energy Transfer LP has a 52-week low of $13.11 and a 52-week high of $19.20.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the previous year, the firm earned $0.31 earnings per share. Energy Transfer’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.77%. Energy Transfer’s payout ratio is 94.85%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ET shares. Royal Bank of Canada raised their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. UBS Group lifted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Bank of America assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $20.00.

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.