Avior Wealth Management LLC Boosts Stock Position in Energy Transfer LP (NYSE:ET)

Avior Wealth Management LLC lifted its position in shares of Energy Transfer LP (NYSE:ET) by 12.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,428 shares of the pipeline company’s stock after buying an additional 7,560 shares during the period. Avior Wealth Management LLC’s holdings in Energy Transfer were worth $1,341,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ET. Adirondack Trust Co. boosted its position in Energy Transfer by 16.9% during the fourth quarter. Adirondack Trust Co. now owns 6,994 shares of the pipeline company’s stock valued at $137,000 after buying an additional 1,009 shares during the period. Mutual Advisors LLC boosted its holdings in Energy Transfer by 11.9% during the 4th quarter. Mutual Advisors LLC now owns 195,565 shares of the pipeline company’s stock valued at $3,960,000 after acquiring an additional 20,856 shares during the period. Traynor Capital Management Inc. grew its position in Energy Transfer by 17.9% during the 4th quarter. Traynor Capital Management Inc. now owns 13,039 shares of the pipeline company’s stock worth $255,000 after acquiring an additional 1,983 shares during the last quarter. Independent Wealth Network Inc. increased its stake in Energy Transfer by 5.2% in the 4th quarter. Independent Wealth Network Inc. now owns 47,607 shares of the pipeline company’s stock worth $933,000 after purchasing an additional 2,336 shares during the period. Finally, Wesbanco Bank Inc. lifted its position in Energy Transfer by 189.4% in the fourth quarter. Wesbanco Bank Inc. now owns 105,700 shares of the pipeline company’s stock valued at $2,071,000 after purchasing an additional 69,179 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Up 0.7 %

ET opened at $21.07 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 52 week low of $13.79 and a 52 week high of $21.45. The stock has a market cap of $72.14 billion, a PE ratio of 15.49, a PEG ratio of 0.55 and a beta of 1.70. The business has a 50 day moving average of $19.23 and a 200-day moving average of $17.28.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 EPS. Equities research analysts predict that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.12%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio is 94.85%.

Analyst Ratings Changes

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

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.