Fort Washington Investment Advisors Inc. OH Cuts Stock Position in Energy Transfer LP $ET

Fort Washington Investment Advisors Inc. OH cut its holdings in shares of Energy Transfer LP (NYSE:ET) by 20.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 269,208 shares of the pipeline company’s stock after selling 69,337 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Energy Transfer were worth $5,196,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Basepoint Wealth LLC purchased a new stake in shares of Energy Transfer during the fourth quarter worth about $25,000. Gables Capital Management Inc. lifted its holdings in Energy Transfer by 60.0% in the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 600 shares in the last quarter. Sarver Vrooman Wealth Advisors purchased a new position in Energy Transfer in the 4th quarter worth approximately $32,000. Financial Life Planners purchased a new position in Energy Transfer in the 3rd quarter worth approximately $34,000. Finally, Navalign LLC bought a new position in Energy Transfer in the 4th quarter worth approximately $37,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ET. Morgan Stanley increased their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Wednesday, May 27th. Stifel Nicolaus boosted their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Truist Financial assumed coverage on shares of Energy Transfer in a research report on Tuesday, March 24th. They set a “buy” rating and a $23.00 target price for the company. Finally, Barclays reaffirmed an “overweight” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $23.45.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $19.06 on Tuesday. The firm has a market cap of $65.60 billion, a PE ratio of 15.89, a PEG ratio of 1.11 and a beta of 0.55. The stock has a 50 day moving average of $19.44 and a 200 day moving average of $18.53. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $20.70.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The firm had revenue of $27.77 billion during the quarter, compared to the consensus estimate 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 was up 32.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 EPS. On average, research analysts expect that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a dividend yield of 7.1%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, May 8th. Energy Transfer’s payout ratio is 112.50%.

Energy Transfer Company Profile

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.