Valeo Financial Advisors LLC Sells 16,127 Shares of Energy Transfer LP (NYSE:ET)

Valeo Financial Advisors LLC trimmed its holdings in Energy Transfer LP (NYSE:ET) by 6.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 238,971 shares of the pipeline company’s stock after selling 16,127 shares during the period. Valeo Financial Advisors LLC’s holdings in Energy Transfer were worth $3,759,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ET. Northwest Financial Advisors bought a new position in Energy Transfer in the 4th quarter worth approximately $25,000. Rise Advisors LLC grew its stake in Energy Transfer by 88.2% during the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 927 shares in the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in Energy Transfer in the 4th quarter valued at $33,000. Harbor Investment Advisory LLC lifted its stake in Energy Transfer by 42.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 750 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of Energy Transfer during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

ET has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Mizuho increased their target price on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Morgan Stanley boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. UBS Group increased their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Finally, Stifel Nicolaus boosted their target price on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Trading Down 0.4 %

ET stock traded down $0.07 during mid-day trading on Wednesday, reaching $16.33. 6,021,343 shares of the stock traded hands, compared to its average volume of 11,840,861. Energy Transfer LP has a one year low of $12.46 and a one year high of $16.48. The stock has a market capitalization of $55.03 billion, a PE ratio of 15.07, a PEG ratio of 0.44 and a beta of 1.66. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The business has a 50-day moving average price of $15.76 and a two-hundred day moving average price of $15.06.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The firm had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. Equities research analysts expect that Energy Transfer LP will post 1.45 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were paid a dividend of $0.317 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.76%. The ex-dividend date was Friday, May 10th. Energy Transfer’s dividend payout ratio (DPR) is currently 116.51%.

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.