Atomi Financial Group Inc. Sells 1,929 Shares of Energy Transfer LP (NYSE:ET)

Atomi Financial Group Inc. lessened its holdings in shares of Energy Transfer LP (NYSE:ET) by 7.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 22,694 shares of the pipeline company’s stock after selling 1,929 shares during the period. Atomi Financial Group Inc.’s holdings in Energy Transfer were worth $357,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ET. Rehmann Capital Advisory Group lifted its stake in shares of Energy Transfer by 2.0% during the first quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock valued at $505,000 after acquiring an additional 633 shares during the period. FinTrust Capital Advisors LLC lifted its stake in shares of Energy Transfer by 3.6% during the first quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock valued at $318,000 after acquiring an additional 700 shares during the period. Essex Financial Services Inc. lifted its stake in shares of Energy Transfer by 2.2% during the first quarter. Essex Financial Services Inc. now owns 33,569 shares of the pipeline company’s stock valued at $528,000 after acquiring an additional 708 shares during the period. Veracity Capital LLC lifted its stake in shares of Energy Transfer by 2.2% during the first quarter. Veracity Capital LLC now owns 32,916 shares of the pipeline company’s stock valued at $518,000 after acquiring an additional 713 shares during the period. Finally, Activest Wealth Management lifted its stake in shares of Energy Transfer by 33.9% during the fourth quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 736 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Up 1.0 %

Shares of Energy Transfer stock traded up $0.17 during trading hours on Monday, hitting $16.42. The company’s stock had a trading volume of 16,929,610 shares, compared to its average volume of 11,850,913. Energy Transfer LP has a 12 month low of $12.46 and a 12 month high of $16.48. The stock has a 50 day moving average of $15.82 and a 200 day moving average of $15.20. The company has a market capitalization of $55.34 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 0.44 and a beta of 1.66. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business had revenue of $21.63 billion during the quarter, compared to the consensus estimate of $20.91 billion. During the same quarter last year, the company earned $0.32 earnings per share. The firm’s revenue was up 13.9% compared to the same quarter last year. Analysts predict that Energy Transfer LP will post 1.45 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were issued a dividend of $0.317 per share. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.72%. Energy Transfer’s dividend payout ratio (DPR) is presently 116.51%.

Wall Street Analysts Forecast Growth

ET has been the topic of several analyst reports. Mizuho increased their target price on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Morgan Stanley increased their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. UBS Group increased their target price on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. increased their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Finally, Stifel Nicolaus increased their target price on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.29.

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.