180 Wealth Advisors LLC Decreases Stock Position in Energy Transfer LP (NYSE:ET)

180 Wealth Advisors LLC trimmed its position in shares of Energy Transfer LP (NYSE:ET) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 220,528 shares of the pipeline company’s stock after selling 6,476 shares during the period. 180 Wealth Advisors LLC’s holdings in Energy Transfer were worth $3,469,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwest Financial Advisors acquired a new stake in shares of Energy Transfer during the fourth quarter worth approximately $25,000. Rise Advisors LLC increased its position in shares of Energy Transfer by 88.2% in the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 927 shares during the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Energy Transfer in the 4th quarter valued at about $33,000. Harbor Investment Advisory LLC lifted its position in shares of Energy Transfer by 42.9% during the fourth 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 Energy Transfer in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Up 1.3 %

Shares of NYSE:ET traded up $0.21 during midday trading on Friday, reaching $16.24. The company had a trading volume of 5,508,349 shares, compared to its average volume of 11,835,287. The company has a fifty day simple moving average of $15.71 and a two-hundred day simple moving average of $14.97. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The firm has a market cap of $54.73 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 0.44 and a beta of 1.63. Energy Transfer LP has a 1-year low of $12.46 and a 1-year high of $16.40.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). The firm had revenue of $21.63 billion for the quarter, compared to analyst estimates of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. Energy Transfer’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. Research analysts predict that Energy Transfer LP will post 1.45 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were given 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 dividend on an annualized basis and a yield of 7.81%. Energy Transfer’s dividend payout ratio is presently 116.51%.

Analyst Upgrades and Downgrades

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