Axxcess Wealth Management LLC Sells 2,530 Shares of Energy Transfer LP (NYSE:ET)

Axxcess Wealth Management LLC cut its holdings in shares of Energy Transfer LP (NYSE:ET) by 3.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,420 shares of the pipeline company’s stock after selling 2,530 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Energy Transfer were worth $1,013,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ET. NBC Securities Inc. grew its position in shares of Energy Transfer by 4.3% in the first quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock valued at $886,000 after purchasing an additional 2,326 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Energy Transfer by 95.8% during the fourth quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock worth $2,013,000 after buying an additional 71,386 shares in the last quarter. Savant Capital LLC lifted its holdings in shares of Energy Transfer by 19.7% during the fourth quarter. Savant Capital LLC now owns 26,335 shares of the pipeline company’s stock worth $363,000 after buying an additional 4,340 shares in the last quarter. Arkadios Wealth Advisors grew its stake in shares of Energy Transfer by 3.3% in the fourth quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company’s stock valued at $390,000 after acquiring an additional 903 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in Energy Transfer during the fourth quarter worth about $1,368,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Energy Transfer stock traded up $0.14 during midday trading on Friday, reaching $16.27. The company’s stock had a trading volume of 22,017,447 shares, compared to its average volume of 12,707,943. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. The stock has a market cap of $54.83 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 0.44 and a beta of 1.66. Energy Transfer LP has a 52 week low of $12.46 and a 52 week high of $16.50. The business has a 50-day moving average price of $15.87 and a 200-day moving average price of $15.33.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). The company had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. On average, sell-side analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Friday, August 9th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.87%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, August 9th. Energy Transfer’s dividend payout ratio is presently 116.51%.

Wall Street Analysts Forecast Growth

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

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.