Icon Wealth Advisors LLC Has $2.79 Million Position in Energy Transfer LP (NYSE:ET)

Icon Wealth Advisors LLC grew its holdings in Energy Transfer LP (NYSE:ET) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 173,904 shares of the pipeline company’s stock after acquiring an additional 7,706 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Energy Transfer were worth $2,791,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Princeton Global Asset Management LLC increased its stake in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares during the period. Assetmark Inc. lifted its position in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the period. LRI Investments LLC acquired a new stake in Energy Transfer during the first quarter worth about $29,000. HWG Holdings LP bought a new position in Energy Transfer in the 2nd quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC raised its position in shares of Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after buying an additional 750 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 1.1 %

NYSE:ET opened at $19.42 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer LP has a one year low of $13.11 and a one year high of $19.71. The firm’s 50 day simple moving average is $16.91 and its 200 day simple moving average is $16.27. The company has a market cap of $66.49 billion, a PE ratio of 14.28, a P/E/G ratio of 0.62 and a beta of 1.66.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The company 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%. Energy Transfer’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share. On average, research analysts anticipate that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 94.85%.

Wall Street Analysts Forecast Growth

ET has been the topic of several analyst reports. Royal Bank of Canada increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Bank of America began coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Finally, UBS Group raised their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $20.00.

Energy Transfer 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.