Energy Transfer LP (NYSE:ET) Stock Holdings Reduced by Pin Oak Investment Advisors Inc.

Pin Oak Investment Advisors Inc. reduced its position in Energy Transfer LP (NYSE:ET) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 240,669 shares of the pipeline company’s stock after selling 629 shares during the quarter. Energy Transfer makes up about 3.5% of Pin Oak Investment Advisors Inc.’s holdings, making the stock its 8th largest position. Pin Oak Investment Advisors Inc.’s holdings in Energy Transfer were worth $3,862,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Princeton Global Asset Management LLC lifted its stake in shares of Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares in the last quarter. Assetmark Inc. raised its holdings in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares during the period. LRI Investments LLC purchased a new stake in shares of Energy Transfer during the first quarter worth $29,000. HWG Holdings LP bought a new position in shares of Energy Transfer in the second quarter worth $33,000. Finally, Sugarloaf Wealth Management LLC grew its position in shares of Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Up 1.1 %

Shares of NYSE ET opened at $19.42 on Thursday. The business has a 50-day moving average of $16.85 and a 200-day moving average of $16.25. The firm has a market capitalization of $66.49 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 0.61 and a beta of 1.66. 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 12 month low of $13.11 and a 12 month high of $19.71.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $20.77 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 EPS. Sell-side analysts expect that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently declared 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. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.64%. Energy Transfer’s payout ratio is 94.85%.

Wall Street Analysts Forecast Growth

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

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.