Energy Transfer LP (NYSE:ET) Shares Sold by Atomi Financial Group Inc.

Atomi Financial Group Inc. lessened its stake in shares of Energy Transfer LP (NYSE:ET) by 7.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,694 shares of the pipeline company’s stock after selling 1,929 shares during the quarter. Atomi Financial Group Inc.’s holdings in Energy Transfer were worth $357,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Northwest Financial Advisors purchased a new position in shares of Energy Transfer in the fourth quarter valued at approximately $25,000. Rise Advisors LLC boosted its stake in shares of Energy Transfer by 88.2% in the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 927 shares during the period. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Energy Transfer in the fourth quarter valued at approximately $33,000. Harbor Investment Advisory LLC boosted its stake in shares of Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 750 shares during the period. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in shares of Energy Transfer in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 1.0 %

ET stock traded up $0.17 during midday trading on Monday, reaching $16.42. 16,929,610 shares of the company were exchanged, compared to its average volume of 11,850,913. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. Energy Transfer LP has a 1-year low of $12.46 and a 1-year high of $16.48. The stock’s 50-day simple moving average is $15.82 and its 200 day simple moving average is $15.20. The company has a market cap of $55.34 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 0.44 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The business had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business’s revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. On average, equities analysts forecast that Energy Transfer LP will post 1.45 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.72%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, May 10th. Energy Transfer’s payout ratio is presently 116.51%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Stifel Nicolaus raised their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. UBS Group lifted their price target on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Mizuho lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Finally, Morgan Stanley lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and an average target price of $19.29.

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.