Avior Wealth Management LLC Grows Holdings in Energy Transfer LP (NYSE:ET)

Avior Wealth Management LLC boosted its stake in Energy Transfer LP (NYSE:ET) by 45.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,868 shares of the pipeline company’s stock after acquiring an additional 19,045 shares during the period. Avior Wealth Management LLC’s holdings in Energy Transfer were worth $977,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ET. Princeton Global Asset Management LLC raised its position in Energy Transfer by 65.0% in the third 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. raised its position in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares during the period. LRI Investments LLC bought a new stake in shares of Energy Transfer in the first quarter valued at approximately $29,000. HWG Holdings LP bought a new stake in shares of Energy Transfer in the second quarter valued at approximately $33,000. Finally, Sugarloaf Wealth Management LLC raised its position in shares of Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

ET stock opened at $18.29 on Thursday. 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 $18.37. The stock has a market cap of $62.62 billion, a PE ratio of 13.45, a P/E/G ratio of 0.53 and a beta of 1.66. The firm has a 50 day simple moving average of $16.55 and a two-hundred day simple moving average of $16.14.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter in the previous year, the company earned $0.31 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts predict that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.05%. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Insider Activity

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This represents a 3.50 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on ET. Royal Bank of Canada boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, UBS Group boosted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target 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.