Naples Global Advisors LLC Lowers Position in Energy Transfer LP (NYSE:ET)

Naples Global Advisors LLC trimmed its stake in Energy Transfer LP (NYSE:ET) by 3.0% in the first quarter, Holdings Channel.com reports. The firm owned 32,800 shares of the pipeline company’s stock after selling 1,000 shares during the quarter. Naples Global Advisors LLC’s holdings in Energy Transfer were worth $610,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ET. Brighton Jones LLC lifted its position in Energy Transfer by 93.4% during the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after buying an additional 11,844 shares in the last quarter. Choreo LLC lifted its position in Energy Transfer by 12.1% during the fourth quarter. Choreo LLC now owns 60,776 shares of the pipeline company’s stock valued at $1,190,000 after buying an additional 6,541 shares in the last quarter. Tyche Wealth Partners LLC lifted its position in Energy Transfer by 11.7% during the fourth quarter. Tyche Wealth Partners LLC now owns 17,887 shares of the pipeline company’s stock valued at $350,000 after buying an additional 1,873 shares in the last quarter. Financial Advocates Investment Management lifted its position in Energy Transfer by 12.4% during the fourth quarter. Financial Advocates Investment Management now owns 18,235 shares of the pipeline company’s stock valued at $357,000 after buying an additional 2,006 shares in the last quarter. Finally, Consolidated Portfolio Review Corp acquired a new position in Energy Transfer during the fourth quarter valued at approximately $673,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Trading Up 1.5%

NYSE ET opened at $17.94 on Friday. The company’s fifty day simple moving average is $17.20 and its 200-day simple moving average is $18.62. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The stock has a market cap of $61.57 billion, a P/E ratio of 14.02, a PEG ratio of 0.64 and a beta of 0.78.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The business had revenue of $21.02 billion for the quarter, compared to analysts’ expectations of $22.28 billion. During the same period in the previous year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities research analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were paid a $0.3275 dividend. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.30%. The ex-dividend date was Friday, May 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is 99.24%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ET. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Mizuho lifted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, May 20th. Morgan Stanley lifted their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Wells Fargo & Company reduced their price target on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. One research analyst has rated the stock with a hold rating and ten 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 target price of $22.64.

Energy Transfer Company 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.