Atria Investments Inc Sells 5,396 Shares of Energy Transfer LP (NYSE:ET)

Atria Investments Inc reduced its position in shares of Energy Transfer LP (NYSE:ET) by 21.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 19,909 shares of the pipeline company’s stock after selling 5,396 shares during the quarter. Atria Investments Inc’s holdings in Energy Transfer were worth $320,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ET. Berkley W R Corp boosted its position in shares of Energy Transfer by 11.6% in the 1st quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock worth $83,912,000 after purchasing an additional 555,445 shares during the last quarter. GFS Advisors LLC raised its holdings in shares of Energy Transfer by 19,380.5% during the third quarter. GFS Advisors LLC now owns 60,000 shares of the pipeline company’s stock worth $963,000 after acquiring an additional 59,692 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Energy Transfer by 491.3% in the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock valued at $20,297,000 after purchasing an additional 1,072,144 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Energy Transfer by 1,491.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock valued at $67,020,000 after acquiring an additional 3,913,266 shares in the last quarter. Finally, Chickasaw Capital Management LLC lifted its position in shares of Energy Transfer by 3.1% in the third quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock worth $246,376,000 after purchasing an additional 466,565 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Energy Transfer Trading Up 0.5 %

Energy Transfer stock opened at $19.06 on Friday. The stock has a 50-day simple moving average of $16.66 and a 200 day simple moving average of $16.18. The stock has a market capitalization of $65.26 billion, a P/E ratio of 14.01, a PEG ratio of 0.55 and a beta of 1.66. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. 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 the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the previous year, the company posted $0.31 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts expect that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

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

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.