Spire Wealth Management lowered its position in shares of Energy Transfer LP (NYSE:ET – Get Rating) by 68.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,680 shares of the pipeline company’s stock after selling 143,411 shares during the quarter. Spire Wealth Management’s holdings in Energy Transfer were worth $789,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mattern Wealth Management LLC acquired a new stake in Energy Transfer during the first quarter valued at approximately $232,000. Brown Miller Wealth Management LLC raised its stake in Energy Transfer by 33.2% during the first quarter. Brown Miller Wealth Management LLC now owns 20,070 shares of the pipeline company’s stock valued at $225,000 after buying an additional 5,001 shares in the last quarter. Gofen & Glossberg LLC IL acquired a new stake in Energy Transfer during the first quarter valued at approximately $112,000. Aurora Private Wealth Inc. raised its stake in Energy Transfer by 67.7% during the first quarter. Aurora Private Wealth Inc. now owns 107,897 shares of the pipeline company’s stock valued at $1,207,000 after buying an additional 43,549 shares in the last quarter. Finally, Flagship Harbor Advisors LLC raised its position in shares of Energy Transfer by 5.5% during the 1st quarter. Flagship Harbor Advisors LLC now owns 22,219 shares of the pipeline company’s stock worth $249,000 after purchasing an additional 1,160 shares during the period. Hedge funds and other institutional investors own 48.40% of the company’s stock.
A number of analysts have recently weighed in on the company. US Capital Advisors reiterated a “buy” rating on shares of Energy Transfer in a research report on Wednesday, June 1st. Morgan Stanley raised their target price on Energy Transfer from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Tuesday, April 26th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $14.11.
Shares of NYSE ET opened at $9.98 on Friday. The stock has a fifty day moving average price of $11.12 and a two-hundred day moving average price of $10.33. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.00 and a current ratio of 1.14. The firm has a market cap of $30.79 billion, a P/E ratio of 9.42 and a beta of 1.93. Energy Transfer LP has a 1 year low of $7.96 and a 1 year high of $12.48.
Energy Transfer (NYSE:ET – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The pipeline company reported $0.37 earnings…
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