Bleakley Financial Group LLC Sells 34,661 Shares of Energy Transfer LP (NYSE:ET)

Bleakley Financial Group LLC trimmed its position in Energy Transfer LP (NYSE:ET) by 57.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,662 shares of the pipeline company’s stock after selling 34,661 shares during the period. Bleakley Financial Group LLC’s holdings in Energy Transfer were worth $412,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ET. LRI Investments LLC bought a new stake in shares of Energy Transfer during the 1st quarter worth $29,000. HWG Holdings LP bought a new stake in shares of Energy Transfer during the 2nd quarter worth $33,000. Sugarloaf Wealth Management LLC lifted its holdings in shares of Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares during the last quarter. EdgeRock Capital LLC bought a new stake in shares of Energy Transfer during the 2nd quarter worth $42,000. Finally, Hudson Edge Investment Partners Inc. bought a new stake in shares of Energy Transfer during the 2nd quarter worth $42,000. 38.22% of the stock is owned by institutional investors.

Insider Activity at Energy Transfer

In related news, Director Kelcy L. Warren purchased 3,000,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Energy Transfer news, Director Kelcy L. Warren acquired 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 3,040,000 shares of company stock worth $47,667,200 over the last 90 days. 3.28% of the stock is owned by company insiders.

Energy Transfer Price Performance

ET stock opened at $16.39 on Wednesday. The firm’s 50-day moving average price is $16.14 and its two-hundred day moving average price is $15.95. Energy Transfer LP has a 12-month low of $12.90 and a 12-month high of $16.64. The stock has a market capitalization of $55.22 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 0.50 and a beta of 1.66. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. During the same quarter in the previous year, the firm posted $0.25 EPS. Energy Transfer’s revenue was up 13.1% compared to the same quarter last year. As a group, equities analysts predict that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 annualized dividend and a dividend yield of 7.81%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 117.43%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. 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 price objective for the company. Royal Bank of Canada lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, 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 report on Wednesday, September 18th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Energy Transfer currently has a consensus rating of “Buy” and an average price target of $20.00.

Energy Transfer Company 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.