Avidian Wealth Solutions LLC Has $488,000 Stake in Energy Transfer LP (NYSE:ET)

Avidian Wealth Solutions LLC cut its position in Energy Transfer LP (NYSE:ET) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,343 shares of the pipeline company’s stock after selling 2,106 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Energy Transfer were worth $488,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ET. Alps Advisors Inc. lifted its holdings in Energy Transfer by 14.5% during the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after buying an additional 9,341,798 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Energy Transfer by 38.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after buying an additional 7,097,074 shares during the period. UBS Group AG lifted its holdings in Energy Transfer by 3.9% during the 3rd quarter. UBS Group AG now owns 25,274,342 shares of the pipeline company’s stock worth $354,599,000 after buying an additional 953,251 shares during the period. Chickasaw Capital Management LLC lifted its holdings in Energy Transfer by 7.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,222,571 shares of the pipeline company’s stock worth $210,071,000 after buying an additional 1,060,322 shares during the period. Finally, Barclays PLC lifted its holdings in Energy Transfer by 31.1% during the 3rd quarter. Barclays PLC now owns 12,378,222 shares of the pipeline company’s stock worth $173,666,000 after buying an additional 2,933,353 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on ET shares. Mizuho reaffirmed a “buy” rating and set a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. Citigroup lifted their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, UBS Group cut their target price on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Energy Transfer Stock Up 0.5 %

Shares of NYSE ET traded up $0.08 during mid-day trading on Monday, reaching $15.97. 7,788,541 shares of the company’s stock traded hands, compared to its average volume of 12,146,555. Energy Transfer LP has a 1-year low of $12.18 and a 1-year high of $16.08. The stock has a market cap of $53.81 billion, a P/E ratio of 14.68 and a beta of 1.63. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The business has a 50-day simple moving average of $15.46 and a 200 day simple moving average of $14.40.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.08. The firm had revenue of $20.53 billion during the quarter, compared to analyst estimates of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 EPS. On average, analysts expect that Energy Transfer LP will post 1.56 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be paid a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.94%. The ex-dividend date is Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 115.60%.

About Energy Transfer

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.