Energy Transfer LP $ET Shares Sold by Integrity Alliance LLC.

Integrity Alliance LLC. cut its stake in shares of Energy Transfer LP (NYSE:ET) by 37.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 14,937 shares of the pipeline company’s stock after selling 8,878 shares during the period. Integrity Alliance LLC.’s holdings in Energy Transfer were worth $271,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Alps Advisors Inc. raised its position in shares of Energy Transfer by 12.9% in the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company’s stock valued at $1,400,831,000 after buying an additional 8,613,645 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its position in shares of Energy Transfer by 2.6% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 38,205,495 shares of the pipeline company’s stock valued at $710,240,000 after buying an additional 951,656 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its position in shares of Energy Transfer by 0.8% in the first quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company’s stock valued at $449,329,000 after buying an additional 182,705 shares during the last quarter. Energy Income Partners LLC raised its position in shares of Energy Transfer by 12.0% in the first quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company’s stock valued at $429,802,000 after buying an additional 2,471,401 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its position in shares of Energy Transfer by 2.8% in the first quarter. Westwood Holdings Group Inc. now owns 16,787,080 shares of the pipeline company’s stock valued at $312,072,000 after buying an additional 455,860 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Trading Up 0.4%

Shares of ET stock opened at $16.85 on Monday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. The firm has a market cap of $57.82 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 1.01 and a beta of 0.78. The company has a 50-day moving average of $17.13 and a two-hundred day moving average of $17.43. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $19.24 billion during the quarter, compared to analyst estimates of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. Energy Transfer’s revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.35 earnings per share. On average, analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th will be paid a dividend of $0.3325 per share. This represents a $1.33 annualized dividend and a yield of 7.9%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, November 7th. Energy Transfer’s payout ratio is 103.10%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ET. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Scotiabank began coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 target price for the company. Cowen began coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a “buy” rating for the company. Jefferies Financial Group set a $17.00 target price on shares of Energy Transfer and gave the company a “hold” rating in a research report on Tuesday, October 28th. Finally, TD Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a “buy” rating and a $22.00 price objective for the company. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.23.

Insiders Place Their Bets

In related news, Director Kelcy L. Warren bought 1,350,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was bought at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the purchase, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This represents a 1.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.28% of the stock is currently owned by company insiders.

Energy Transfer 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.