Icon Wealth Advisors LLC Decreases Stock Holdings in Energy Transfer LP (NYSE:ET)

Icon Wealth Advisors LLC decreased its holdings in Energy Transfer LP (NYSE:ET) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 166,198 shares of the pipeline company’s stock after selling 2,028 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Energy Transfer were worth $2,614,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Rehmann Capital Advisory Group grew its stake in shares of Energy Transfer by 2.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock valued at $505,000 after purchasing an additional 633 shares during the period. Sfmg LLC grew its stake in shares of Energy Transfer by 2.2% during the 1st quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock valued at $494,000 after purchasing an additional 674 shares during the period. FinTrust Capital Advisors LLC grew its stake in shares of Energy Transfer by 3.6% during the 1st quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock valued at $318,000 after purchasing an additional 700 shares during the period. Essex Financial Services Inc. grew its stake in shares of Energy Transfer by 2.2% during the 1st quarter. Essex Financial Services Inc. now owns 33,569 shares of the pipeline company’s stock valued at $528,000 after purchasing an additional 708 shares during the period. Finally, Veracity Capital LLC grew its stake in shares of Energy Transfer by 2.2% during the 1st quarter. Veracity Capital LLC now owns 32,916 shares of the pipeline company’s stock valued at $518,000 after purchasing an additional 713 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

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

Energy Transfer Price Performance

Shares of ET traded up $0.19 during mid-day trading on Tuesday, hitting $16.21. 17,394,975 shares of the stock were exchanged, compared to its average volume of 12,786,557. The company has a market cap of $54.63 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 0.43 and a beta of 1.66. Energy Transfer LP has a 52-week low of $12.46 and a 52-week high of $16.50. The firm has a 50-day moving average of $15.88 and a two-hundred day moving average of $15.40. 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) last issued its quarterly earnings data 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 firm had revenue of $21.63 billion for the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm’s revenue was up 13.9% on a year-over-year basis. During the same period last year, the company earned $0.32 earnings per share. On average, equities analysts predict that Energy Transfer LP will post 1.47 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 9th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 7.90%. The ex-dividend date of this dividend is Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 116.51%.

Energy Transfer Company 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.