Icon Wealth Advisors LLC Sells 2,028 Shares of Energy Transfer LP (NYSE:ET)

Icon Wealth Advisors LLC lessened its position in Energy Transfer LP (NYSE:ET) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 166,198 shares of the pipeline company’s stock after selling 2,028 shares during the period. Icon Wealth Advisors LLC’s holdings in Energy Transfer were worth $2,614,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. First Reserve GP XIII Ltd acquired a new position in Energy Transfer during the fourth quarter worth $322,097,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Energy Transfer by 38.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after purchasing an additional 7,097,074 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Energy Transfer by 18.5% during the fourth quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock worth $350,845,000 after purchasing an additional 3,976,676 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Energy Transfer by 1,447.6% during the fourth quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock worth $518,460,000 after purchasing an additional 3,514,195 shares during the last quarter. Finally, UBS Group AG boosted its holdings in Energy Transfer by 13.3% during the fourth quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock worth $395,270,000 after purchasing an additional 3,368,427 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Mizuho increased their price target 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. UBS Group increased their price target on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Stifel Nicolaus increased their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. increased their price target 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. Finally, Morgan Stanley increased their price target 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. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Stock Performance

NYSE:ET traded up $0.19 during mid-day trading on Tuesday, reaching $16.21. 17,394,975 shares of the company’s stock were exchanged, compared to its average volume of 12,786,557. Energy Transfer LP has a one year low of $12.46 and a one year high of $16.50. The firm has a market capitalization of $54.63 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 0.43 and a beta of 1.66. The business’s fifty day simple moving average is $15.88 and its two-hundred day simple moving average is $15.40. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18.

Energy Transfer (NYSE:ET) last released 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 business had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $20.91 billion. During the same period in the prior year, the business posted $0.32 earnings per share. Energy Transfer’s revenue was up 13.9% compared to the same quarter last year. Analysts anticipate that Energy Transfer LP will post 1.47 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Friday, August 9th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 7.90%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, August 9th. Energy Transfer’s dividend payout ratio is presently 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.