Valeo Financial Advisors LLC Has $3.76 Million Stake in Energy Transfer LP (NYSE:ET)

Valeo Financial Advisors LLC cut its position in Energy Transfer LP (NYSE:ET) by 6.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 238,971 shares of the pipeline company’s stock after selling 16,127 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Energy Transfer were worth $3,759,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ET. Alps Advisors Inc. lifted its stake in Energy Transfer by 14.5% during the third quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after purchasing an additional 9,341,798 shares during the last quarter. UBS Group AG lifted its position in shares of Energy Transfer by 13.3% during the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock worth $395,270,000 after buying an additional 3,368,427 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Energy Transfer by 38.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock valued at $353,576,000 after buying an additional 7,097,074 shares in the last quarter. Clearbridge Investments LLC grew its position in Energy Transfer by 18.5% in the fourth quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after acquiring an additional 3,976,676 shares during the last quarter. Finally, First Reserve GP XIII Ltd bought a new position in shares of Energy Transfer in the fourth quarter worth about $322,097,000. Institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

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

Energy Transfer Trading Down 0.4 %

Shares of ET stock traded down $0.07 during mid-day trading on Wednesday, hitting $16.33. The company’s stock had a trading volume of 6,021,343 shares, compared to its average volume of 11,840,861. The company has a market cap of $55.03 billion, a PE ratio of 15.07, a P/E/G 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 company’s fifty day simple moving average is $15.76 and its 200-day simple moving average is $15.06. Energy Transfer LP has a 52 week low of $12.46 and a 52 week high of $16.48.

Energy Transfer (NYSE:ET) last issued 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 business had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. Energy Transfer’s quarterly revenue 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. As a group, equities research analysts expect that Energy Transfer LP will post 1.45 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were paid a $0.317 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a yield of 7.76%. The ex-dividend date was Friday, May 10th. Energy Transfer’s payout ratio is 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.