1900 Wealth Management LLC Sells 3,504 Shares of Energy Transfer LP (NYSE:ET)

1900 Wealth Management LLC cut its holdings in Energy Transfer LP (NYSE:ET) by 1.9% in the third quarter, HoldingsChannel reports. The firm owned 185,568 shares of the pipeline company’s stock after selling 3,504 shares during the period. 1900 Wealth Management LLC’s holdings in Energy Transfer were worth $2,919,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ET. Princeton Global Asset Management LLC lifted its stake in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the last quarter. Veracity Capital LLC lifted its position in Energy Transfer by 2.0% during the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock worth $545,000 after acquiring an additional 659 shares during the last quarter. Morton Capital Management LLC CA boosted its holdings in Energy Transfer by 1.6% during the second quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock valued at $720,000 after acquiring an additional 699 shares during the period. Rockwood Wealth Management LLC grew its position in shares of Energy Transfer by 0.5% in the second quarter. Rockwood Wealth Management LLC now owns 128,122 shares of the pipeline company’s stock valued at $2,078,000 after purchasing an additional 700 shares during the last quarter. Finally, Fidelis Capital Partners LLC increased its stake in shares of Energy Transfer by 2.3% in the third quarter. Fidelis Capital Partners LLC now owns 31,858 shares of the pipeline company’s stock worth $522,000 after purchasing an additional 709 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

Energy Transfer stock traded up $0.21 on Friday, hitting $17.30. The company’s stock had a trading volume of 26,159,440 shares, compared to its average volume of 13,213,857. The company has a fifty day moving average price of $16.30 and a 200-day moving average price of $16.05. The firm has a market cap of $59.20 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 0.53 and a beta of 1.66. Energy Transfer LP has a one year low of $13.01 and a one year high of $17.71. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.64%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 earnings per share. On average, equities analysts anticipate that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be given a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 7.46%. The ex-dividend date is Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is 94.12%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Royal Bank of Canada increased their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. UBS Group raised their price objective 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 started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Energy Transfer presently has a consensus rating of “Buy” and an average target price of $20.00.

Insiders Place Their Bets

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the acquisition, the director now directly owns 123,385,650 shares in the company, valued at $1,934,686,992. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the stock in a transaction on Friday, August 23rd. The stock was bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 3,040,000 shares of company stock worth $47,667,200 over the last three months. 3.28% of the stock is currently owned by corporate insiders.

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.