Dividend Assets Capital LLC cut its stake in shares of Energy Transfer LP (NYSE:ET) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,299,314 shares of the pipeline company’s stock after selling 27,926 shares during the period. Energy Transfer comprises about 1.9% of Dividend Assets Capital LLC’s investment portfolio, making the stock its 12th biggest position. Dividend Assets Capital LLC’s holdings in Energy Transfer were worth $9,979,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. WASHINGTON TRUST Co lifted its position in shares of Energy Transfer by 13.5% in the first quarter. WASHINGTON TRUST Co now owns 12,599 shares of the pipeline company’s stock valued at $97,000 after acquiring an additional 1,500 shares in the last quarter. Legacy Financial Advisors Inc. purchased a new position in shares of Energy Transfer in the first quarter valued at about $246,000. Atlas Private Wealth Advisors lifted its position in shares of Energy Transfer by 97.2% in the first quarter. Atlas Private Wealth Advisors now owns 6,086 shares of the pipeline company’s stock valued at $47,000 after acquiring an additional 3,000 shares in the last quarter. SL Advisors LLC lifted its position in shares of Energy Transfer by 8.9% in the first quarter. SL Advisors LLC now owns 184,481 shares of the pipeline company’s stock valued at $1,417,000 after acquiring an additional 15,000 shares in the last quarter. Finally, Parsons Capital Management Inc. RI lifted its position in shares of Energy Transfer by 94.9% in the first quarter. Parsons Capital Management Inc. RI now owns 77,032 shares of the pipeline company’s stock valued at $592,000 after acquiring an additional 37,500 shares in the last quarter. Institutional investors own 36.42% of the company’s stock.

Shares of NYSE ET traded up $0.15 during trading hours on Tuesday, reaching $8.78. The stock had a trading volume of 165,190 shares, compared to its average volume of 21,117,309. The company has a current ratio of 1.02, a quick ratio of 0.73 and a debt-to-equity ratio of 1.64. The firm has a market cap of $23.73 billion, a price-to-earnings ratio of -86.30 and a beta of 2.54. The business’s fifty day moving average price is $8.04 and its two-hundred day moving average price is $6.95. Energy Transfer LP has a 52-week low of $4.98 and a 52-week high of $9.55.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 16th. The pipeline company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.07). The firm had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.33 billion. Energy Transfer had a negative net margin of 0.64% and a positive return on equity of 8.23%. Equities research analysts anticipate that Energy Transfer LP will post 0.88 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 19th. Stockholders of record on Tuesday, May 11th will be given a dividend of $0.153 per share. The ex-dividend date of this dividend is Monday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.15. This represents a $0.61 dividend on an annualized basis and a dividend yield of 6.97%. Energy Transfer’s dividend payout ratio is presently 42.07%.

Several equities research analysts have recently issued reports on ET shares. UBS Group lifted their target price on Energy Transfer from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, February 25th. Barclays raised Energy Transfer from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $9.00 to $10.00 in a report on Tuesday, January 12th. Credit Suisse Group lifted their target price on Energy Transfer from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Monday, March 8th. Wells Fargo & Company lifted their target price on Energy Transfer from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Mizuho assumed coverage on Energy Transfer in a report on Tuesday. They issued a “buy” rating and a $12.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $10.73.

Energy Transfer Profile

Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,340 miles of interstate natural gas pipelines. It also sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.

Further Reading: Economic Reports

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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