Insight Folios Inc Cuts Stake in Energy Transfer LP (NYSE:ET)

Insight Folios Inc trimmed its stake in Energy Transfer LP (NYSE:ET) by 12.9% in the 1st quarter, HoldingsChannel reports. The firm owned 516,520 shares of the pipeline company’s stock after selling 76,518 shares during the quarter. Energy Transfer accounts for 3.3% of Insight Folios Inc’s portfolio, making the stock its 2nd biggest position. Insight Folios Inc’s holdings in Energy Transfer were worth $8,125,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Northwest Financial Advisors purchased a new position in Energy Transfer during the 4th quarter valued at about $25,000. Rise Advisors LLC lifted its position in Energy Transfer by 88.2% during the 4th 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 during the period. Atlantic Edge Private Wealth Management LLC purchased a new position in Energy Transfer during the 4th quarter valued at about $33,000. Harbor Investment Advisory LLC lifted its position 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 during the period. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in Energy Transfer during the 4th quarter valued at about $34,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Energy Transfer Stock Down 0.4 %

NYSE:ET traded down $0.07 on Thursday, reaching $16.33. 6,029,352 shares of the stock traded hands, compared to its average volume of 9,580,107. The company has a market capitalization of $55.03 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 0.45 and a beta of 1.66. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a 12 month low of $12.46 and a 12 month high of $16.48. The company’s fifty day simple moving average is $15.76 and its 200 day simple moving average is $15.07.

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

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were paid a $0.317 dividend. The ex-dividend date of this dividend was Friday, May 10th. 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%. Energy Transfer’s payout ratio is currently 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.