Atria Wealth Solutions Inc. Cuts Stock Holdings in Energy Transfer LP (NYSE:ET)

Atria Wealth Solutions Inc. lessened its stake in Energy Transfer LP (NYSE:ET - Free Report) by 14.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 472,442 shares of the pipeline company's stock after selling 81,052 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Energy Transfer were worth $7,663,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Northwest Financial Advisors acquired a new position in Energy Transfer during the fourth quarter valued at approximately $25,000. LRI Investments LLC purchased a new stake in Energy Transfer during the 1st quarter worth $29,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in Energy Transfer in the 4th quarter valued at $33,000. Ables Iannone Moore & Associates Inc. purchased a new position in Energy Transfer in the fourth quarter valued at about $34,000. Finally, Community Bank N.A. lifted its stake in shares of Energy Transfer by 55.9% during the fourth quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company's stock worth $37,000 after purchasing an additional 951 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Energy Transfer

In other news, Director Kelcy L. Warren bought 3,000,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares of the company's stock, valued at approximately $1,934,686,992. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Energy Transfer news, Director Kelcy L. Warren bought 3,000,000 shares of the business's stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares of the company's stock, valued at $1,934,686,992. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas E. Long acquired 20,000 shares of the firm's stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,308,859 shares of the company's stock, valued at $67,562,909.12. The disclosure for this purchase can be found here. 3.28% of the stock is currently owned by company insiders.

Energy Transfer Stock Performance

Shares of NYSE ET traded down $0.04 during trading on Wednesday, reaching $16.02. The stock had a trading volume of 11,524,713 shares, compared to its average volume of 13,617,470. The firm's 50 day moving average price is $16.03 and its two-hundred day moving average price is $15.59. Energy Transfer LP has a one year low of $12.89 and a one year high of $16.50. The stock has a market cap of $53.99 billion, a PE ratio of 14.70, a P/E/G ratio of 0.42 and a beta of 1.66. 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 (NYSE:ET - Get Free Report) last posted its quarterly earnings results 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). The business had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The company's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 earnings per share. On average, research analysts forecast that Energy Transfer LP will post 1.49 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a $0.32 dividend. The ex-dividend date was Friday, August 9th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.99%. Energy Transfer's dividend payout ratio (DPR) is currently 117.43%.

Analysts Set New Price Targets

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

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