Avidian Wealth Solutions LLC Lowers Stock Holdings in Energy Transfer LP (NYSE:ET)

Avidian Wealth Solutions LLC lessened its holdings in Energy Transfer LP (NYSE:ET) by 5.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 35,343 shares of the pipeline company’s stock after selling 2,106 shares during the period. Avidian Wealth Solutions LLC’s holdings in Energy Transfer were worth $488,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alps Advisors Inc. lifted its position in Energy Transfer by 14.5% in the third quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after buying an additional 9,341,798 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Energy Transfer by 38.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock valued at $353,576,000 after buying an additional 7,097,074 shares during the period. International Assets Investment Management LLC grew its stake in Energy Transfer by 1,447.6% in the fourth quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock valued at $518,460,000 after purchasing an additional 3,514,195 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in Energy Transfer in the third quarter valued at approximately $42,932,000. Finally, Barclays PLC raised its stake in Energy Transfer by 31.1% in the third quarter. Barclays PLC now owns 12,378,222 shares of the pipeline company’s stock valued at $173,666,000 after buying an additional 2,933,353 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. UBS Group dropped their price target on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Mizuho reaffirmed a “buy” rating and issued a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Finally, Citigroup boosted their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and an average price target of $18.00.

Energy Transfer Stock Up 0.5 %

Shares of ET traded up $0.08 during mid-day trading on Monday, reaching $15.97. The company’s stock had a trading volume of 7,788,541 shares, compared to its average volume of 12,146,555. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The company’s 50 day moving average is $15.46 and its 200 day moving average is $14.40. The stock has a market cap of $53.81 billion, a PE ratio of 14.68 and a beta of 1.63. Energy Transfer LP has a 12-month low of $12.18 and a 12-month high of $16.08.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The business had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Energy Transfer LP will post 1.56 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be issued a dividend of $0.317 per share. The ex-dividend date is Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a yield of 7.94%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 115.60%.

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.