Energy Transfer LP (NYSE:ET) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC lessened its holdings in Energy Transfer LP (NYSE:ET) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,407 shares of the pipeline company’s stock after selling 1,841 shares during the quarter. NewEdge Wealth LLC’s holdings in Energy Transfer were worth $944,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. VitalStone Financial LLC increased its holdings in Energy Transfer by 100.0% in the 1st quarter. VitalStone Financial LLC now owns 3,000 shares of the pipeline company’s stock worth $25,000 after buying an additional 1,500 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Energy Transfer in the 1st quarter worth approximately $25,000. Rise Advisors LLC boosted its position in Energy Transfer by 88.2% in the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 927 shares in the last quarter. IMA Wealth Inc. boosted its position in Energy Transfer by 100.0% in the 2nd quarter. IMA Wealth Inc. now owns 2,400 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Ronald Blue Trust Inc. purchased a new stake in Energy Transfer in the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ET shares. UBS Group lowered their price objective on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. Citigroup upped their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.57.

Energy Transfer Trading Down 1.3 %

Shares of NYSE:ET opened at $15.22 on Tuesday. The business’s 50 day moving average price is $15.08 and its 200-day moving average price is $14.20. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The firm has a market capitalization of $51.27 billion, a price-to-earnings ratio of 13.96 and a beta of 1.64. Energy Transfer LP has a 1 year low of $12.18 and a 1 year high of $16.04.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The firm had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company earned $0.34 EPS. On average, equities research analysts forecast that Energy Transfer LP will post 1.44 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were given a $0.315 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. This represents a $1.26 annualized dividend and a yield of 8.28%. The ex-dividend date was Tuesday, February 6th. Energy Transfer’s payout ratio is currently 115.60%.

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.