Transcend Capital Advisors LLC Cuts Stock Holdings in Energy Transfer LP (NYSE:ET)

Transcend Capital Advisors LLC decreased its holdings in shares of Energy Transfer LP (NYSE:ET) by 5.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,902 shares of the pipeline company’s stock after selling 4,797 shares during the period. Transcend Capital Advisors LLC’s holdings in Energy Transfer were worth $1,491,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Northwest Financial Advisors acquired a new stake in shares of Energy Transfer in the 4th quarter worth approximately $25,000. LRI Investments LLC purchased a new stake in shares of Energy Transfer in the 1st quarter worth about $29,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in Energy Transfer in the 4th quarter valued at about $33,000. Harbor Investment Advisory LLC increased its holdings in Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after acquiring 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. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Trading Down 2.2 %

Shares of NYSE ET traded down $0.35 during midday trading on Monday, hitting $15.60. The stock had a trading volume of 20,655,929 shares, compared to its average volume of 12,898,030. The company has a market capitalization of $52.57 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.42 and a beta of 1.66. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a 1-year low of $12.46 and a 1-year high of $16.50. The company has a fifty day moving average price of $15.92 and a 200 day moving average price of $15.44.

Energy Transfer (NYSE:ET) last announced 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). The company had revenue of $21.63 billion for the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 earnings per share. On average, analysts predict that Energy Transfer LP will post 1.49 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 9th will be issued a dividend of $0.32 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a dividend yield of 8.21%. The ex-dividend date of this dividend is Friday, August 9th. Energy Transfer’s dividend payout ratio (DPR) is presently 116.51%.

Analyst Upgrades and Downgrades

ET has been the topic of several analyst reports. Mizuho raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Morgan Stanley increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. JPMorgan Chase & Co. lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. 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 note on Thursday, May 9th. Finally, UBS Group raised their price target on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. One 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer 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.