IFG Advisory LLC Sells 32,219 Shares of Energy Transfer LP $ET

IFG Advisory LLC reduced its stake in Energy Transfer LP (NYSE:ET) by 45.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,976 shares of the pipeline company’s stock after selling 32,219 shares during the period. IFG Advisory LLC’s holdings in Energy Transfer were worth $626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Alps Advisors Inc. lifted its stake in Energy Transfer by 4.5% during the third quarter. Alps Advisors Inc. now owns 77,651,021 shares of the pipeline company’s stock worth $1,332,492,000 after purchasing an additional 3,366,734 shares during the last quarter. Invesco Ltd. lifted its stake in Energy Transfer by 3.2% during the third quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock worth $992,923,000 after purchasing an additional 1,773,042 shares during the last quarter. Energy Income Partners LLC lifted its stake in Energy Transfer by 1.4% during the third quarter. Energy Income Partners LLC now owns 23,351,183 shares of the pipeline company’s stock worth $400,706,000 after purchasing an additional 326,653 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Energy Transfer by 2.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,898,420 shares of the pipeline company’s stock worth $375,777,000 after purchasing an additional 544,944 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in Energy Transfer during the third quarter worth $264,309,000. 38.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ET has been the subject of several recent analyst reports. Truist Financial initiated coverage on Energy Transfer in a research note on Tuesday, March 24th. They set a “buy” rating and a $23.00 target price for the company. Morgan Stanley upped their target price on Energy Transfer from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Wells Fargo & Company upped their target price on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, March 13th. Stifel Nicolaus upped their target price on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Energy Transfer has an average rating of “Buy” and a consensus price target of $23.45.

Energy Transfer Stock Down 1.3%

Shares of NYSE:ET opened at $19.16 on Friday. The company has a fifty day moving average of $19.43 and a 200-day moving average of $18.16. The company has a market capitalization of $65.93 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.12 and a beta of 0.57. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $20.70.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The company had revenue of $27.77 billion for the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The firm’s quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter last year, the company posted $0.36 earnings per share. On average, equities analysts predict that Energy Transfer LP will post 1.41 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a dividend yield of 7.0%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 112.50%.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.