Energy Transfer LP (NYSE:ET) Stock Holdings Trimmed by Fortis Group Advisors LLC

Fortis Group Advisors LLC trimmed its position in Energy Transfer LP (NYSE:ET) by 41.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,915 shares of the pipeline company’s stock after selling 14,325 shares during the period. Fortis Group Advisors LLC’s holdings in Energy Transfer were worth $370,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. United Advisor Group LLC increased its position in Energy Transfer by 3.0% during the fourth quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company’s stock worth $363,000 after buying an additional 534 shares during the last quarter. Cannell & Spears LLC grew its holdings in Energy Transfer by 0.4% during the 4th quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company’s stock worth $2,657,000 after acquiring an additional 546 shares during the period. Morton Capital Management LLC CA lifted its position in Energy Transfer by 1.3% in the 1st quarter. Morton Capital Management LLC CA now owns 46,382 shares of the pipeline company’s stock valued at $862,000 after acquiring an additional 593 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in Energy Transfer by 3.0% in the 4th quarter. OneDigital Investment Advisors LLC now owns 20,389 shares of the pipeline company’s stock valued at $399,000 after acquiring an additional 596 shares in the last quarter. Finally, Fortis Capital Management LLC lifted its position in Energy Transfer by 1.9% during the 4th quarter. Fortis Capital Management LLC now owns 32,556 shares of the pipeline company’s stock worth $638,000 after buying an additional 600 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Price Performance

Energy Transfer stock opened at $17.54 on Friday. The firm has a market cap of $60.18 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 0.57 and a beta of 0.79. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. The stock’s fifty day moving average price is $17.82 and its two-hundred day moving average price is $18.37.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The business had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter last year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, research analysts expect 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. Shareholders of record on Friday, May 9th were issued a $0.3275 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.47%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is currently 99.24%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ET. JPMorgan Chase & Co. decreased 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 note on Monday, May 19th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Royal Bank Of Canada reiterated an “outperform” rating and set a $23.00 price target on shares of Energy Transfer in a report on Tuesday, March 25th. Mizuho increased their price objective 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. Finally, Wells Fargo & Company decreased their target price on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $22.58.

Insiders Place Their Bets

In other news, Director James Richard Perry sold 1,369 shares of the business’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $18.48, for a total value of $25,299.12. Following the sale, the director directly owned 24,523 shares of the company’s stock, valued at approximately $453,185.04. The trade was a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.28% of the company’s stock.

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.