Energy Transfer LP (NYSE:ET) Stock Holdings Boosted by Independent Advisor Alliance

Independent Advisor Alliance raised its position in shares of Energy Transfer LP (NYSE:ET) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 287,808 shares of the pipeline company’s stock after purchasing an additional 21,764 shares during the quarter. Independent Advisor Alliance’s holdings in Energy Transfer were worth $4,619,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. StoneX Group Inc. lifted its position in shares of Energy Transfer by 5.8% during the 3rd quarter. StoneX Group Inc. now owns 81,090 shares of the pipeline company’s stock valued at $1,301,000 after acquiring an additional 4,467 shares during the last quarter. Jim Saulnier & Associates LLC acquired a new stake in shares of Energy Transfer during the 3rd quarter valued at $183,000. One Charles Private Wealth Services LLC lifted its position in shares of Energy Transfer by 245.6% during the 3rd quarter. One Charles Private Wealth Services LLC now owns 69,127 shares of the pipeline company’s stock valued at $1,109,000 after acquiring an additional 49,127 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Energy Transfer by 30.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after acquiring an additional 57,184 shares during the last quarter. Finally, Cerity Partners LLC lifted its position in shares of Energy Transfer by 29.1% during the 3rd quarter. Cerity Partners LLC now owns 242,531 shares of the pipeline company’s stock valued at $3,893,000 after acquiring an additional 54,611 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ET has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Bank of America began coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Finally, UBS Group increased their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $20.00.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $19.07 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 1 year low of $13.11 and a 1 year high of $19.20. The business has a fifty day simple moving average of $16.66 and a 200 day simple moving average of $16.18. The firm has a market cap of $65.29 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 0.61 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share. As a group, sell-side analysts predict that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 6.76%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s payout ratio is 94.85%.

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.