Lavaca Capital LLC Trims Holdings in Energy Transfer LP $ET

Lavaca Capital LLC lowered its holdings in shares of Energy Transfer LP (NYSE:ET) by 26.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 192,800 shares of the pipeline company’s stock after selling 68,926 shares during the period. Energy Transfer accounts for 0.7% of Lavaca Capital LLC’s investment portfolio, making the stock its 15th largest holding. Lavaca Capital LLC’s holdings in Energy Transfer were worth $3,721,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Texas Yale Capital Corp. increased its holdings in shares of Energy Transfer by 6.1% in the fourth quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company’s stock valued at $21,634,000 after purchasing an additional 75,700 shares during the period. North Star Investment Management Corp. lifted its holdings in shares of Energy Transfer by 100.1% during the fourth quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company’s stock worth $2,664,000 after purchasing an additional 80,786 shares during the period. Summit Securities Group LLC grew its position in Energy Transfer by 179.0% in the 1st quarter. Summit Securities Group LLC now owns 162,100 shares of the pipeline company’s stock valued at $3,129,000 after buying an additional 104,000 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in Energy Transfer by 9.1% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 1,560,110 shares of the pipeline company’s stock valued at $25,726,000 after buying an additional 129,489 shares during the period. Finally, Tectonic Advisors LLC increased its stake in Energy Transfer by 8.3% in the 4th quarter. Tectonic Advisors LLC now owns 726,693 shares of the pipeline company’s stock valued at $11,983,000 after buying an additional 55,624 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Energy Transfer stock opened at $20.41 on Thursday. The company has a market cap of $70.24 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 1.17 and a beta of 0.55. Energy Transfer LP has a one year low of $16.18 and a one year high of $20.70. The business has a fifty day moving average of $19.54 and a two-hundred day moving average of $18.94. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The company had revenue of $27.77 billion for the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. As a group, analysts predict that Energy Transfer LP will post 1.43 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a dividend of $0.3375 per share. The ex-dividend date was Friday, May 8th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a yield of 6.6%. Energy Transfer’s dividend payout ratio (DPR) is currently 112.50%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. JPMorgan Chase & Co. boosted their price target on shares of Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. TD Cowen reissued a “buy” rating and set a $24.00 price target (up from $23.00) on shares of Energy Transfer in a report on Thursday, July 16th. Raymond James Financial restated a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group raised Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, May 26th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $23.50.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.