B. Riley Wealth Advisors Inc. lowered its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 56.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 276,229 shares of the pipeline company's stock after selling 358,395 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Energy Transfer were worth $4,440,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in ET. Brookstone Capital Management boosted its position in Energy Transfer by 8.2% during the 2nd quarter. Brookstone Capital Management now owns 205,620 shares of the pipeline company's stock valued at $3,313,000 after purchasing an additional 15,496 shares during the period. Western Wealth Management LLC raised its holdings in Energy Transfer by 2.1% during the 2nd quarter. Western Wealth Management LLC now owns 69,342 shares of the pipeline company's stock worth $1,125,000 after buying an additional 1,427 shares during the period. MONECO Advisors LLC lifted its position in shares of Energy Transfer by 34.7% in the 2nd quarter. MONECO Advisors LLC now owns 38,465 shares of the pipeline company's stock valued at $624,000 after acquiring an additional 9,905 shares in the last quarter. Central Bank & Trust Co. acquired a new stake in shares of Energy Transfer in the second quarter worth $161,000. Finally, Apollon Wealth Management LLC increased its holdings in shares of Energy Transfer by 11.5% in the 2nd quarter. Apollon Wealth Management LLC now owns 269,115 shares of the pipeline company's stock valued at $4,365,000 after purchasing an additional 27,750 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.
Energy Transfer Price Performance
ET traded down $0.17 during trading on Friday, hitting $19.04. The company's stock had a trading volume of 10,819,203 shares, compared to its average volume of 13,666,156. Energy Transfer LP has a 12 month low of $13.54 and a 12 month high of $20.02. The stock has a market capitalization of $65.19 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The firm's 50 day moving average price is $17.58 and its two-hundred day moving average price is $16.54.
Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts' consensus estimates of $0.32. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. Energy Transfer's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 earnings per share. Sell-side analysts forecast that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.
Energy Transfer Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.78%. Energy Transfer's dividend payout ratio is presently 94.85%.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. Royal Bank of Canada boosted their target price on Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. UBS Group lifted their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. Finally, Bank of America assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a "buy" rating and a $20.00 price objective on the stock. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $20.38.
Check Out Our Latest Stock Report on Energy Transfer
About Energy Transfer
(
Free Report)
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.
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