Energy Transfer LP (NYSE:ET) Stock Position Increased by Private Advisor Group LLC

Private Advisor Group LLC lifted its position in Energy Transfer LP (NYSE:ET) by 18.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 495,391 shares of the pipeline company’s stock after buying an additional 77,444 shares during the period. Private Advisor Group LLC’s holdings in Energy Transfer were worth $7,793,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northwest Financial Advisors purchased a new position in Energy Transfer in the fourth quarter valued at about $25,000. Rise Advisors LLC grew its stake in Energy Transfer by 88.2% in the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 927 shares in the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new position in Energy Transfer in the fourth quarter valued at about $33,000. Harbor Investment Advisory LLC grew its stake in Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 750 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in Energy Transfer in the fourth quarter valued at about $34,000. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

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

Energy Transfer Trading Down 0.9 %

ET stock traded down $0.15 during midday trading on Friday, hitting $16.18. 8,279,102 shares of the company’s stock were exchanged, compared to its average volume of 11,813,076. The stock’s fifty day moving average price is $15.77 and its 200-day moving average price is $15.08. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The company has a market cap of $54.53 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 0.45 and a beta of 1.66. Energy Transfer LP has a one year low of $12.46 and a one year high of $16.48.

Energy Transfer (NYSE:ET) last released its 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). The company had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 EPS. Research analysts predict that Energy Transfer LP will post 1.45 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were issued a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.84%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, May 10th. Energy Transfer’s dividend payout ratio is presently 116.51%.

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.