Leavell Investment Management Inc. lowered its stake in Energy Transfer LP (NYSE:ET) by 35.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 17,216 shares of the pipeline company’s stock after selling 9,508 shares during the period. Leavell Investment Management Inc.’s holdings in Energy Transfer were worth $93,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FDx Advisors Inc. increased its position in Energy Transfer by 19.8% during the 1st quarter. FDx Advisors Inc. now owns 22,893 shares of the pipeline company’s stock worth $105,000 after purchasing an additional 3,779 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Energy Transfer by 12.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 1,841,912 shares of the pipeline company’s stock worth $13,114,000 after purchasing an additional 202,304 shares in the last quarter. Marshall Wace LLP acquired a new position in Energy Transfer during the 2nd quarter worth approximately $111,000. Ensign Peak Advisors Inc acquired a new position in Energy Transfer during the 2nd quarter worth approximately $625,000. Finally, Raymond James & Associates increased its position in Energy Transfer by 8.6% during the 2nd quarter. Raymond James & Associates now owns 2,487,853 shares of the pipeline company’s stock worth $17,714,000 after purchasing an additional 196,614 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.
A number of research firms recently issued reports on ET. Wells Fargo & Company cut shares of Energy Transfer from an “overweight” rating to an “equal weight” rating and set a $8.00 price objective for the company. in a research report on Wednesday, July 22nd. Zacks Investment Research upgraded shares of Energy Transfer from a “sell” rating to a “hold” rating in a research report on Thursday, October 22nd. Raymond James decreased their price target on shares of Energy Transfer from $11.00 to $10.00 and set a “strong-buy” rating for the company in a research report on Tuesday, October 20th. Royal Bank of Canada decreased their price target on shares of Energy Transfer from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Monday, July 27th. Finally, Morgan Stanley decreased their price target on shares of Energy Transfer from $8.00 to $6.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $9.88.
ET opened at $5.27 on Thursday. Energy Transfer LP has a twelve month low of $3.75 and a twelve month high of $13.86. The company has a quick ratio of 0.71, a current ratio of 1.03 and a debt-to-equity ratio of 1.56. The company has a fifty day moving average of $5.85 and a 200-day moving average of $6.80. The stock has a market cap of $14.21 billion, a PE ratio of 10.33 and a beta of 2.56.
Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 5th. The pipeline company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.12). The company had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $11.60 billion. Energy Transfer had a return on equity of 8.64% and a net margin of 2.90%. Sell-side analysts anticipate that Energy Transfer LP will post 0.75 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Friday, November 6th will be paid a dividend of $0.153 per share. This represents a $0.61 annualized dividend and a yield of 11.61%. The ex-dividend date of this dividend is Thursday, November 5th. Energy Transfer’s dividend payout ratio is presently 84.14%.
Energy Transfer Company Profile
Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,500 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
Read More: Terms to Better Understand Call Options
Receive News & Ratings for Energy Transfer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Transfer and related companies with MarketBeat.com's FREE daily email newsletter.