Argent Advisors Inc. Sells 46,000 Shares of Energy Transfer LP $ET

Argent Advisors Inc. cut its stake in shares of Energy Transfer LP (NYSE:ET) by 73.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,468 shares of the pipeline company’s stock after selling 46,000 shares during the quarter. Argent Advisors Inc.’s holdings in Energy Transfer were worth $283,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CNB Bank boosted its position in Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after buying an additional 1,000 shares in the last quarter. HHM Wealth Advisors LLC increased its holdings in shares of Energy Transfer by 54.4% during the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock worth $41,000 after buying an additional 800 shares in the last quarter. Core Alternative Capital bought a new position in shares of Energy Transfer in the third quarter valued at approximately $46,000. FSC Wealth Advisors LLC acquired a new position in shares of Energy Transfer in the 2nd quarter worth approximately $50,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Energy Transfer by 38.9% in the 3rd quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock worth $50,000 after acquiring an additional 817 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,000,000 shares of the stock in a transaction on Wednesday, November 19th. The stock was purchased at an average price of $16.95 per share, with a total value of $16,950,000.00. Following the acquisition, the director owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. The trade was a 0.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.28% of the company’s stock.

Energy Transfer Price Performance

Energy Transfer stock opened at $18.42 on Friday. The business’s 50-day simple moving average is $16.88 and its 200 day simple moving average is $17.09. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 1.50. The stock has a market cap of $63.24 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 0.97 and a beta of 0.66. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.16.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.06). The firm had revenue of $19.95 billion for the quarter, compared to the consensus estimate of $21.84 billion. Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 earnings per share. As a group, research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Friday, February 6th will be issued a $0.335 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 annualized dividend and a yield of 7.3%. The ex-dividend date is Friday, February 6th. Energy Transfer’s dividend payout ratio (DPR) is currently 106.40%.

Analysts Set New Price Targets

A number of equities analysts have commented on ET shares. Jefferies Financial Group set a $17.00 price objective on Energy Transfer and gave the stock a “hold” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. cut their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Morgan Stanley reduced their price target on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 2nd. Scotiabank restated an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Finally, Royal Bank Of Canada raised shares of Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and an average target price of $21.50.

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.