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

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

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Basepoint Wealth LLC bought a new position in shares of Energy Transfer during the fourth quarter worth approximately $25,000. Gables Capital Management Inc. boosted its stake 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 valued at $26,000 after purchasing an additional 600 shares during the period. Sarver Vrooman Wealth Advisors bought a new stake in Energy Transfer in the 4th quarter valued at $32,000. Financial Life Planners acquired a new position in Energy Transfer in the 3rd quarter valued at $34,000. Finally, Navalign LLC acquired a new position in Energy Transfer in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

Energy Transfer stock opened at $19.32 on Friday. The firm has a market cap of $66.47 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.12 and a beta of 0.55. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. The stock’s fifty day moving average price is $19.46 and its two-hundred day moving average price is $18.59. Energy Transfer LP has a one year low of $16.18 and a one year high of $20.70.

Energy Transfer (NYSE:ET) last released its 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 the consensus estimate of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business’s revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. As a group, research analysts expect that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 7.0%. 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 presently 112.50%.

Wall Street Analyst Weigh In

ET has been the topic of several recent research reports. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research note on Friday, June 5th. JPMorgan Chase & Co. raised their price target on shares of Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Barclays reiterated an “overweight” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 14th. Finally, Citigroup reissued a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $23.45.

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.