Bollard Group LLC Sells 104,257 Shares of Energy Transfer LP $ET

Bollard Group LLC lowered its position in Energy Transfer LP (NYSE:ET) by 11.4% in the 4th quarter, Holdings Channel reports. The firm owned 810,912 shares of the pipeline company’s stock after selling 104,257 shares during the quarter. Bollard Group LLC’s holdings in Energy Transfer were worth $13,372,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Basepoint Wealth LLC bought a new stake in Energy Transfer in the fourth quarter worth about $25,000. Gables Capital Management Inc. lifted its stake in Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 600 shares during the last quarter. Sarver Vrooman Wealth Advisors bought a new stake in Energy Transfer in the fourth quarter worth about $32,000. Financial Life Planners bought a new stake in Energy Transfer in the third quarter worth about $34,000. Finally, Navalign LLC bought a new stake in Energy Transfer in the fourth quarter worth about $37,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET stock opened at $19.06 on Friday. The firm has a market cap of $65.59 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.11 and a beta of 0.55. The company’s 50 day moving average is $19.44 and its 200 day moving average is $18.34. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $20.70.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data 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). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. During the same period in the previous year, the business earned $0.36 earnings per share. The business’s quarterly revenue was up 32.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a $0.3375 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend was Friday, May 8th. Energy Transfer’s dividend payout ratio is presently 112.50%.

Analyst Ratings Changes

A number of equities analysts have recently commented on ET shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a research report on Friday, June 5th. Stifel Nicolaus raised their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Jefferies Financial Group raised shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Tuesday, May 26th. Finally, Citigroup reaffirmed a “buy” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Energy Transfer currently has an average rating of “Buy” and a consensus price target of $23.45.

Energy Transfer Profile

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.