Seaview Investment Managers LLC Sells 146,429 Shares of Energy Transfer LP $ET

Seaview Investment Managers LLC decreased its holdings in shares of Energy Transfer LP (NYSE:ET) by 34.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 279,129 shares of the pipeline company’s stock after selling 146,429 shares during the period. Energy Transfer makes up about 1.8% of Seaview Investment Managers LLC’s portfolio, making the stock its 27th largest position. Seaview Investment Managers LLC’s holdings in Energy Transfer were worth $4,790,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. CNB Bank grew its stake in Energy Transfer by 111.1% in the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after buying an additional 1,000 shares in the last quarter. HHM Wealth Advisors LLC raised its position in Energy Transfer by 54.4% in the 2nd quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 800 shares during the period. Core Alternative Capital bought a new stake in Energy Transfer during the 3rd quarter valued at $46,000. FSC Wealth Advisors LLC bought a new stake in shares of Energy Transfer in the 2nd quarter worth approximately $50,000. Finally, Golden State Wealth Management LLC raised its holdings in Energy Transfer by 38.9% in the 3rd quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock worth $50,000 after purchasing an additional 817 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on ET shares. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Jefferies Financial Group set a $17.00 target price on Energy Transfer and gave the stock a “hold” rating in a report on Tuesday, October 28th. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Wednesday, January 7th. Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a research report on Monday, December 15th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

Insider Buying and Selling

In other Energy Transfer news, Director Kelcy L. Warren bought 1,000,000 shares of the stock in a transaction on Wednesday, November 19th. The stock was purchased at an average price of $16.95 per share, with a total value of $16,950,000.00. Following the acquisition, the director owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. The trade was a 0.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.28% of the stock is owned by corporate insiders.

Energy Transfer Stock Performance

NYSE:ET opened at $18.12 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.41 and a quick ratio of 1.14. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $20.51. The firm has a 50-day moving average of $17.11 and a two-hundred day moving average of $17.12. The stock has a market cap of $62.21 billion, a P/E ratio of 14.50, a PEG ratio of 0.93 and a beta of 0.66.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Friday, February 6th will be given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 7.4%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, February 6th. Energy Transfer’s payout ratio is currently 107.20%.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.