Pin Oak Investment Advisors Inc. Has $4.51 Million Holdings in Energy Transfer LP (NYSE:ET)

Pin Oak Investment Advisors Inc. lifted its position in shares of Energy Transfer LP (NYSE:ET) by 0.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 242,848 shares of the pipeline company’s stock after buying an additional 2,179 shares during the quarter. Energy Transfer comprises 3.5% of Pin Oak Investment Advisors Inc.’s holdings, making the stock its 6th biggest position. Pin Oak Investment Advisors Inc.’s holdings in Energy Transfer were worth $4,507,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Energy Transfer by 93.4% in the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after purchasing an additional 11,844 shares in the last quarter. Sei Investments Co. raised its stake in Energy Transfer by 131.6% during the fourth quarter. Sei Investments Co. now owns 244,213 shares of the pipeline company’s stock worth $4,784,000 after acquiring an additional 138,761 shares in the last quarter. Blair William & Co. IL raised its stake in Energy Transfer by 8.4% during the fourth quarter. Blair William & Co. IL now owns 515,292 shares of the pipeline company’s stock worth $10,095,000 after acquiring an additional 39,816 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in Energy Transfer by 22.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 82,383 shares of the pipeline company’s stock worth $1,614,000 after acquiring an additional 14,982 shares in the last quarter. Finally, Strategy Asset Managers LLC raised its stake in Energy Transfer by 5.9% during the fourth quarter. Strategy Asset Managers LLC now owns 19,734 shares of the pipeline company’s stock worth $387,000 after acquiring an additional 1,107 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Activity

In other news, Director James Richard Perry sold 1,369 shares of the company’s 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 transaction, the director directly owned 24,523 shares of the company’s stock, valued at $453,185.04. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.28% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET stock opened at $17.73 on Monday. The business’s 50 day simple moving average is $17.79 and its 200 day simple moving average is $18.27. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The stock has a market capitalization of $60.83 billion, a PE ratio of 13.43, a PEG ratio of 0.92 and a beta of 0.79. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The firm had revenue of $21.02 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 EPS. As a group, research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.45%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, August 8th. Energy Transfer’s dividend payout ratio is presently 99.24%.

Analyst Ratings Changes

Several research analysts have commented on ET shares. TD Cowen started coverage on Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating and a $22.00 target price for the company. JPMorgan Chase & Co. lowered their target price 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. Mizuho upped 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. Cowen began coverage on Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company lowered their price objective on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.58.

About Energy Transfer

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.