Energy Transfer LP (NYSE:ET) Stake Lessened by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC decreased its holdings in shares of Energy Transfer LP (NYSE:ET) by 13.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,766 shares of the pipeline company’s stock after selling 16,125 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Energy Transfer were worth $2,013,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. GAMMA Investing LLC purchased a new position in Energy Transfer during the 4th quarter valued at about $29,000. Princeton Global Asset Management LLC boosted its holdings in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares during the period. Assetmark Inc. grew its position in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares in the last quarter. Financial Life Planners acquired a new position in Energy Transfer in the 4th quarter valued at approximately $37,000. Finally, Golden State Wealth Management LLC acquired a new position in Energy Transfer in the 4th quarter valued at approximately $41,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Trading Down 1.2 %

Shares of ET stock opened at $19.84 on Wednesday. Energy Transfer LP has a 12 month low of $13.94 and a 12 month high of $21.45. The company has a market cap of $67.93 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The business’s 50 day moving average is $19.72 and its two-hundred day moving average is $17.68.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Equities analysts predict that Energy Transfer LP will post 1.37 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be given a $0.325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.55%. The ex-dividend date of this dividend is Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ET. Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. The Goldman Sachs Group boosted their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Royal Bank of Canada upped their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company lifted their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Barclays increased their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.82.

About Energy Transfer

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.