Cetera Investment Advisers Boosts Holdings in Energy Transfer LP (NYSE:ET)

Cetera Investment Advisers raised its position in Energy Transfer LP (NYSE:ET) by 491.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,290,364 shares of the pipeline company’s stock after buying an additional 1,072,144 shares during the quarter. Cetera Investment Advisers’ holdings in Energy Transfer were worth $20,297,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of ET. Northwest Financial Advisors acquired a new position in Energy Transfer during the fourth quarter worth $25,000. LRI Investments LLC purchased a new position in shares of Energy Transfer in the 1st quarter valued at about $29,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Energy Transfer during the fourth quarter worth about $33,000. Harbor Investment Advisory LLC boosted its holdings in Energy Transfer by 42.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after buying an additional 750 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in Energy Transfer during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

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

Energy Transfer Trading Down 1.5 %

Shares of Energy Transfer stock traded down $0.24 during mid-day trading on Friday, hitting $15.95. 20,932,387 shares of the stock were exchanged, compared to its average volume of 18,857,116. The company has a 50-day simple moving average of $15.92 and a 200 day simple moving average of $15.42. 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 capitalization of $53.75 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 0.42 and a beta of 1.66. Energy Transfer LP has a twelve month low of $12.46 and a twelve month high of $16.50.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. During the same period in the previous year, the firm posted $0.32 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. Research analysts forecast that Energy Transfer LP will post 1.49 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Friday, August 9th will be issued a $0.32 dividend. 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. This represents a $1.28 annualized dividend and a yield of 8.03%. Energy Transfer’s payout ratio is 116.51%.

Energy Transfer Company Profile

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.