Inspire Advisors LLC Sells 1,107 Shares of Energy Transfer LP (NYSE:ET)

Inspire Advisors LLC reduced its stake in Energy Transfer LP (NYSE:ET) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,822 shares of the pipeline company’s stock after selling 1,107 shares during the period. Inspire Advisors LLC’s holdings in Energy Transfer were worth $366,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. LRI Investments LLC bought a new stake in shares of Energy Transfer during the first quarter valued at about $29,000. HWG Holdings LP bought a new stake in Energy Transfer during the 2nd quarter worth approximately $33,000. Sugarloaf Wealth Management LLC lifted its stake in Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in Energy Transfer in the 2nd quarter worth approximately $42,000. Finally, Hudson Edge Investment Partners Inc. bought a new position in Energy Transfer in the 2nd quarter valued at $42,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Thomas E. Long acquired 20,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the acquisition, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the chief executive officer now owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 3,040,000 shares of company stock valued at $47,667,200 over the last three months. Insiders own 3.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ET. Bank of America initiated coverage on shares of Energy Transfer in a report on Thursday. They issued a “buy” rating and a $20.00 price target on the stock. Royal Bank of Canada raised their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, UBS Group boosted their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $20.00.

Energy Transfer Price Performance

ET opened at $16.41 on Friday. The stock has a market capitalization of $55.30 billion, a P/E ratio of 15.06, 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 LP has a 12-month low of $12.90 and a 12-month high of $16.64. The stock has a 50-day moving average price of $16.11 and a 200-day moving average price of $15.95.

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

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 7.80%. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

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.