Energy Transfer LP $ET Shares Sold by Lavaca Capital LLC

Lavaca Capital LLC trimmed its position in shares of Energy Transfer LP (NYSE:ET) by 26.3% during the first quarter, Holdings Channel reports. The firm owned 192,800 shares of the pipeline company’s stock after selling 68,926 shares during the quarter. Energy Transfer comprises approximately 0.7% of Lavaca Capital LLC’s holdings, making the stock its 15th biggest position. Lavaca Capital LLC’s holdings in Energy Transfer were worth $3,721,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ET. Keybank National Association OH increased its position in shares of Energy Transfer by 0.3% in the first quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock valued at $4,231,000 after buying an additional 556 shares in the last quarter. Mountain Capital Investment Advisors Inc. boosted its position in shares of Energy Transfer by 4.9% in the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock worth $216,000 after buying an additional 560 shares in the last quarter. Marks Wealth LLC boosted its position in shares of Energy Transfer by 4.7% in the 4th quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock worth $207,000 after buying an additional 560 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in Energy Transfer by 2.4% in the 1st quarter. Citizens Financial Group Inc. RI now owns 23,978 shares of the pipeline company’s stock valued at $463,000 after acquiring an additional 562 shares during the last quarter. Finally, Avos Capital Management LLC grew its stake in Energy Transfer by 0.8% in the 4th quarter. Avos Capital Management LLC now owns 76,695 shares of the pipeline company’s stock valued at $1,265,000 after acquiring an additional 583 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.8%

ET opened at $20.41 on Thursday. The firm has a market cap of $70.24 billion, a P/E ratio of 17.01, a PEG ratio of 1.17 and a beta of 0.55. The business’s fifty day simple moving average is $19.54 and its 200 day simple moving average is $18.94. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $20.70. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a $0.3375 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend was Friday, May 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 112.50%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ET. JPMorgan Chase & Co. lifted their target price on shares of Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Zacks Research upgraded shares of Energy Transfer from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Jefferies Financial Group upgraded shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday, May 26th. Royal Bank Of Canada reissued an “outperform” rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research note on Tuesday. Finally, TD Cowen restated a “buy” rating and set a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research report on Thursday, July 16th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $23.50.

Energy Transfer Profile

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.