Private Advisor Group LLC Has $14.17 Million Holdings in Energy Transfer LP $ET

Private Advisor Group LLC lessened its holdings in Energy Transfer LP (NYSE:ET) by 24.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 734,016 shares of the pipeline company’s stock after selling 236,165 shares during the quarter. Private Advisor Group LLC’s holdings in Energy Transfer were worth $14,167,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Basepoint Wealth LLC acquired a new stake in Energy Transfer in the 4th quarter valued at $25,000. Gables Capital Management Inc. boosted its stake in shares of Energy Transfer by 60.0% during the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after buying an additional 600 shares during the last quarter. Sarver Vrooman Wealth Advisors bought a new position in shares of Energy Transfer in the 4th quarter valued at about $32,000. Financial Life Planners bought a new position in shares of Energy Transfer in the 3rd quarter valued at about $34,000. Finally, Navalign LLC acquired a new stake in shares of Energy Transfer in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Down 0.1%

Shares of NYSE:ET opened at $19.32 on Friday. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $20.70. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The company has a market capitalization of $66.47 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 1.12 and a beta of 0.55. The company has a 50-day simple moving average of $19.46 and a 200 day simple moving average of $18.59.

Energy Transfer (NYSE:ET) last announced 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 business 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%.Energy Transfer’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. Sell-side analysts forecast that Energy Transfer LP will post 1.43 earnings per share for the current 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 dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend was Friday, May 8th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is presently 112.50%.

Analysts Set New Price Targets

ET has been the topic of several analyst reports. Morgan Stanley upped their target price on Energy Transfer from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Stifel Nicolaus boosted their price target on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a report on Friday, June 5th. Barclays reissued an “overweight” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 14th. Finally, UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $23.45.

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.