IFG Advisory LLC Has $1.21 Million Stock Position in Energy Transfer LP $ET

IFG Advisory LLC cut its holdings in Energy Transfer LP (NYSE:ET) by 54.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 70,195 shares of the pipeline company’s stock after selling 85,414 shares during the quarter. IFG Advisory LLC’s holdings in Energy Transfer were worth $1,205,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Quantum Private Wealth LLC boosted its position in shares of Energy Transfer by 0.5% during the 2nd quarter. Quantum Private Wealth LLC now owns 116,515 shares of the pipeline company’s stock worth $2,112,000 after purchasing an additional 627 shares in the last quarter. HBK Sorce Advisory LLC raised its stake in Energy Transfer by 3.4% during the 3rd quarter. HBK Sorce Advisory LLC now owns 19,018 shares of the pipeline company’s stock worth $321,000 after buying an additional 628 shares during the period. Magnus Financial Group LLC boosted its holdings in Energy Transfer by 2.0% in the third quarter. Magnus Financial Group LLC now owns 31,430 shares of the pipeline company’s stock worth $539,000 after acquiring an additional 629 shares in the last quarter. Perigon Wealth Management LLC grew its stake in Energy Transfer by 1.7% in the third quarter. Perigon Wealth Management LLC now owns 39,585 shares of the pipeline company’s stock valued at $679,000 after acquiring an additional 644 shares during the period. Finally, Veracity Capital LLC increased its holdings in shares of Energy Transfer by 1.9% during the third quarter. Veracity Capital LLC now owns 36,791 shares of the pipeline company’s stock valued at $631,000 after acquiring an additional 689 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $18.73 on Friday. The firm has a market capitalization of $64.44 billion, a PE ratio of 15.48, a P/E/G ratio of 0.99 and a beta of 0.63. The company has a quick ratio of 0.90, a current ratio of 1.22 and a debt-to-equity ratio of 1.50. The company has a 50-day moving average price of $17.92 and a two-hundred day moving average price of $17.26. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $19.30.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.09). The business had revenue of $25.32 billion during the quarter, compared to the consensus estimate of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same period last year, the firm earned $0.29 EPS. Equities analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were given a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 7.2%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, February 6th. Energy Transfer’s dividend payout ratio (DPR) is presently 110.74%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ET shares. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Jefferies Financial Group restated a “hold” rating on shares of Energy Transfer in a report on Wednesday, February 18th. Morgan Stanley dropped their price objective on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 2nd. TD Cowen lifted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Energy Transfer in a research report on Wednesday, December 24th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.20.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.