Kingswood Wealth Advisors LLC Sells 2,673 Shares of Energy Transfer LP (NYSE:ET)

Kingswood Wealth Advisors LLC decreased its stake in Energy Transfer LP (NYSE:ET) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,629 shares of the pipeline company’s stock after selling 2,673 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Energy Transfer were worth $765,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Northwest Financial Advisors bought a new stake in shares of Energy Transfer in the fourth quarter worth $25,000. Rise Advisors LLC boosted its holdings in Energy Transfer by 88.2% in the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 927 shares during the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new stake in Energy Transfer during the 4th quarter valued at approximately $33,000. Harbor Investment Advisory LLC raised its holdings in Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 750 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of Energy Transfer in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Down 0.5 %

Shares of ET traded down $0.08 during trading hours on Wednesday, reaching $15.92. 16,814,755 shares of the stock traded hands, compared to its average volume of 11,939,194. Energy Transfer LP has a 52 week low of $12.46 and a 52 week high of $16.40. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. The stock has a fifty day simple moving average of $15.70 and a 200 day simple moving average of $14.96. The company has a market cap of $53.65 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 0.44 and a beta of 1.63.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). The business had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 EPS. On average, equities analysts forecast that Energy Transfer LP will post 1.45 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were paid a $0.317 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.27 annualized dividend and a yield of 7.96%. Energy Transfer’s dividend payout ratio is presently 116.51%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Mizuho lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Morgan Stanley lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. UBS Group increased their price target on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. JPMorgan Chase & Co. lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Finally, Stifel Nicolaus increased their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

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.