Fort Washington Investment Advisors Inc. OH Sells 69,337 Shares of Energy Transfer LP $ET

Fort Washington Investment Advisors Inc. OH trimmed its holdings in shares of Energy Transfer LP (NYSE:ET) by 20.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 269,208 shares of the pipeline company’s stock after selling 69,337 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Energy Transfer were worth $5,196,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Morgan Stanley grew its position in Energy Transfer by 41.6% in the fourth quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock worth $1,423,256,000 after acquiring an additional 25,366,594 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Energy Transfer during the third quarter valued at approximately $264,309,000. Alps Advisors Inc. lifted its stake in shares of Energy Transfer by 8.0% in the 4th quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock valued at $1,382,573,000 after purchasing an additional 6,192,066 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Energy Transfer by 3.2% in the 3rd quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock valued at $992,923,000 after purchasing an additional 1,773,042 shares during the last quarter. Finally, Jump Financial LLC lifted its stake in shares of Energy Transfer by 128.0% in the 4th quarter. Jump Financial LLC now owns 2,585,439 shares of the pipeline company’s stock valued at $42,634,000 after purchasing an additional 1,451,613 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Barclays restated an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 14th. Morgan Stanley raised their price target on Energy Transfer from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. Citigroup reaffirmed a “buy” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, March 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Energy Transfer presently has a consensus rating of “Buy” and a consensus target price of $23.45.

Energy Transfer Stock Down 0.6%

Shares of NYSE ET opened at $19.06 on Tuesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. The company has a market cap of $65.60 billion, a P/E ratio of 15.89, a PEG ratio of 1.11 and a beta of 0.55. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $20.70. The firm has a 50-day simple moving average of $19.44 and a two-hundred day simple moving average of $18.53.

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

Energy Transfer Increases Dividend

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