SG Americas Securities LLC Sells 72,884 Shares of Energy Transfer LP $ET

SG Americas Securities LLC reduced its stake in shares of Energy Transfer LP (NYSE:ET) by 37.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 121,592 shares of the pipeline company’s stock after selling 72,884 shares during the period. SG Americas Securities LLC’s holdings in Energy Transfer were worth $2,204,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ET. Chelsea Counsel Co. boosted its stake in shares of Energy Transfer by 370.3% in the 2nd quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company’s stock valued at $1,705,000 after purchasing an additional 74,050 shares during the last quarter. Ariston Services Group lifted its holdings in Energy Transfer by 126.7% in the second quarter. Ariston Services Group now owns 100,683 shares of the pipeline company’s stock valued at $1,825,000 after buying an additional 56,274 shares during the period. Highland Capital Management LLC bought a new stake in Energy Transfer during the second quarter valued at $930,000. Northern Trust Corp grew its holdings in Energy Transfer by 223.5% during the 1st quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company’s stock worth $19,883,000 after acquiring an additional 738,885 shares during the period. Finally, Focus Partners Wealth grew its holdings in Energy Transfer by 11.9% during the 1st quarter. Focus Partners Wealth now owns 275,698 shares of the pipeline company’s stock worth $5,125,000 after acquiring an additional 29,404 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $16.96 on Thursday. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The stock’s 50 day moving average is $16.93 and its 200-day moving average is $17.40. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $58.22 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.01 and a beta of 0.76.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The business had revenue of $19.95 billion for the quarter, compared to the consensus estimate of $21.84 billion. During the same quarter last year, the firm posted $0.32 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. Sell-side analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were given a $0.3325 dividend. This represents a $1.33 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend was Friday, November 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is 106.40%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wells Fargo & Company restated an “overweight” rating and set a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Scotiabank cut their price target on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. UBS Group reiterated a “buy” rating and set a $22.00 target price on shares of Energy Transfer in a research report on Wednesday, October 15th. Finally, Barclays reissued an “overweight” rating and set a $25.00 target price on shares of Energy Transfer in a research note on Wednesday, October 15th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.08.

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.