Avior Wealth Management LLC Has $1.66 Million Holdings in Energy Transfer LP (NYSE:ET)

Avior Wealth Management LLC boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 30.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 89,078 shares of the pipeline company’s stock after acquiring an additional 20,650 shares during the quarter. Avior Wealth Management LLC’s holdings in Energy Transfer were worth $1,656,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ET. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Energy Transfer during the 4th quarter worth about $25,000. Capital A Wealth Management LLC purchased a new stake in shares of Energy Transfer during the 4th quarter worth about $26,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Energy Transfer during the 4th quarter worth about $29,000. United Community Bank purchased a new stake in shares of Energy Transfer during the 4th quarter worth about $35,000. Finally, Tortoise Investment Management LLC raised its stake in shares of Energy Transfer by 111.1% during the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 1,000 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $18.48, for a total transaction of $25,299.12. Following the sale, the director now owns 24,523 shares of the company’s stock, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ET shares. JPMorgan Chase & Co. cut their price target on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Morgan Stanley raised their price objective on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Mizuho raised their price objective on Energy Transfer from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, May 20th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.64.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $17.81 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.41. The business’s 50 day moving average is $17.50 and its two-hundred day moving average is $18.54. The company has a market cap of $61.10 billion, a P/E ratio of 13.49, a P/E/G ratio of 0.58 and a beta of 0.78. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 EPS. On average, equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were given a $0.3275 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 7.36%. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer’s payout ratio is currently 99.24%.

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.