Dynamic Advisor Solutions LLC Lowers Holdings in Energy Transfer LP (NYSE:ET)

Dynamic Advisor Solutions LLC trimmed its position in Energy Transfer LP (NYSE:ET) by 10.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,743 shares of the pipeline company’s stock after selling 14,040 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Energy Transfer were worth $2,356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ET. Mountain Hill Investment Partners Corp. acquired a new stake in Energy Transfer in the fourth quarter valued at $25,000. Capital A Wealth Management LLC acquired a new stake in Energy Transfer in the fourth quarter valued at $26,000. Fourth Dimension Wealth LLC acquired a new stake in Energy Transfer in the fourth quarter valued at $29,000. United Community Bank acquired a new stake in Energy Transfer in the fourth quarter valued at $35,000. Finally, Tortoise Investment Management LLC lifted its holdings in Energy Transfer by 111.1% in the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after acquiring an additional 1,000 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on ET. Wells Fargo & Company decreased their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th. Morgan Stanley lifted their price objective on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. JPMorgan Chase & Co. lowered their target price on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.64.

Energy Transfer Trading Down 1.0%

NYSE ET opened at $18.14 on Tuesday. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The company has a 50-day moving average of $17.38 and a 200-day moving average of $18.57. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The company has a market cap of $62.25 billion, a P/E ratio of 14.17, a P/E/G ratio of 0.64 and a beta of 0.78.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The company had revenue of $21.02 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter in the prior year, the company posted $0.32 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were paid a dividend of $0.3275 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.22%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is currently 99.24%.

Energy Transfer 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.