Lido Advisors LLC Has $6.03 Million Position in Energy Transfer LP $ET

Lido Advisors LLC lessened its position in Energy Transfer LP (NYSE:ET) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 332,625 shares of the pipeline company’s stock after selling 16,785 shares during the period. Lido Advisors LLC’s holdings in Energy Transfer were worth $6,030,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ET. Chelsea Counsel Co. raised its stake in Energy Transfer by 370.3% in the 2nd quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company’s stock valued at $1,705,000 after acquiring an additional 74,050 shares during the period. Ariston Services Group boosted its holdings in shares of Energy Transfer by 126.7% during the 2nd quarter. Ariston Services Group now owns 100,683 shares of the pipeline company’s stock worth $1,825,000 after buying an additional 56,274 shares during the period. Highland Capital Management LLC acquired a new position in Energy Transfer in the 2nd quarter valued at about $930,000. Focus Partners Wealth grew its stake in Energy Transfer by 11.9% in the 1st quarter. Focus Partners Wealth now owns 275,698 shares of the pipeline company’s stock valued at $5,125,000 after buying an additional 29,404 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Energy Transfer by 223.5% in the 1st quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company’s stock valued at $19,883,000 after acquiring an additional 738,885 shares during the period. 38.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ET has been the topic of several research reports. Scotiabank decreased their target price on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a research report on Thursday, November 13th. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Jefferies Financial Group set a $17.00 price objective on Energy Transfer and gave the company a “hold” rating in a report on Tuesday, October 28th. Morgan Stanley dropped their target price on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. lowered 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 Monday, November 24th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.92.

Insider Transactions at Energy Transfer

In other news, Director Kelcy L. Warren acquired 1,000,000 shares of the stock in a transaction on Wednesday, November 19th. The stock was acquired at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the transaction, the director directly owned 104,577,803 shares in the company, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 3.28% of the stock is owned by company insiders.

Energy Transfer Stock Performance

ET opened at $16.81 on Tuesday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The firm has a market cap of $57.70 billion, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 1.01 and a beta of 0.76. The business’s fifty day moving average is $16.79 and its 200-day moving average is $17.37.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.06). Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The firm had revenue of $19.95 billion for the quarter, compared to the consensus estimate of $21.84 billion. During the same period in the prior year, the company earned $0.32 EPS. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. Sell-side analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were paid a $0.3325 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 7.9%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, November 7th. Energy Transfer’s payout ratio is 106.40%.

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.