41,559 Energy Transfer LP $ET Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its position in Energy Transfer LP (TXSE:ET – Free Report) by 14.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 246,924 shares of the pipeline company’s stock after selling 41,559 shares during the quarter. ProShare Advisors LLC’s holdings in Energy Transfer were worth $4,882,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Summit Securities Group LLC increased its stake in Energy Transfer by 179.0% in the 1st quarter. Summit Securities Group LLC now owns 162,100 shares of the pipeline company’s stock valued at $3,129,000 after buying an additional 104,000 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Energy Transfer by 15.8% in the 1st quarter. Sanctuary Advisors LLC now owns 1,888,661 shares of the pipeline company’s stock worth $36,451,000 after buying an additional 257,954 shares during the last quarter. Mizuho Markets Americas LLC purchased a new position in shares of Energy Transfer in the 1st quarter worth approximately $61,760,000. Independent Financial Group LLC bought a new position in shares of Energy Transfer in the first quarter valued at approximately $2,170,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Energy Transfer by 8.6% in the second quarter. Envestnet Asset Management Inc. now owns 1,244,157 shares of the pipeline company’s stock valued at $23,788,000 after acquiring an additional 98,624 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Energy Transfer

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Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy Warren acquired 647,968 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were bought at an average price of $21.26 per share, with a total value of $13,775,799.68. Following the completion of the acquisition, the director owned 147,901,879 shares in the company, valued at $3,144,393,947.54. This represents a 0.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.28% of the stock is owned by company insiders.

Energy Transfer Price Performance

ET opened at $19.19 on Friday. The stock has a fifty day simple moving average of $20.65 and a two-hundred day simple moving average of $19.70. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45. The company has a market cap of $66.08 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 0.73 and a beta of 0.62. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $21.84.

Energy Transfer (TXSE:ET – Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The firm had revenue of $37.10 billion for the quarter, compared to the consensus estimate of $30.98 billion. During the same period in the previous year, the company earned $0.28 earnings per share. Research analysts predict that Energy Transfer LP will post 1.73 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Friday, November 6th will be paid a $0.3425 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, November 6th. This represents a $1.37 annualized dividend and a dividend yield of 7.1%. Energy Transfer’s dividend payout ratio (DPR) is currently 90.13%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Weiss Ratings raised Energy Transfer from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, September 8th. Truist Financial raised their target price on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Stifel Nicolaus initiated coverage on Energy Transfer in a research report on Thursday, September 10th. They set a “buy” rating and a $25.00 target price for the company. Wall Street Zen upgraded Energy Transfer from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.73.

Check Out Our Latest Stock Report on Energy Transfer

About Energy Transfer

(Free Report)

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.

See Also

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Institutional Ownership by Quarter for Energy Transfer (TXSE:ET)

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