Wealthstar Advisors LLC Sells 1,430 Shares of Energy Transfer LP (NYSE:ET)

Wealthstar Advisors LLC cut its position in shares of Energy Transfer LP (NYSE:ET) by 3.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,044 shares of the pipeline company’s stock after selling 1,430 shares during the quarter. Wealthstar Advisors LLC’s holdings in Energy Transfer were worth $583,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ET. First Reserve GP XIII Ltd purchased a new stake in Energy Transfer in the 4th quarter worth approximately $322,097,000. Mirae Asset Global Investments Co. Ltd. increased its position in Energy Transfer by 38.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock valued at $353,576,000 after buying an additional 7,097,074 shares in the last quarter. Clearbridge Investments LLC increased its position in Energy Transfer by 18.5% during the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after buying an additional 3,976,676 shares in the last quarter. International Assets Investment Management LLC increased its position in Energy Transfer by 1,447.6% during the 4th quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock valued at $518,460,000 after buying an additional 3,514,195 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of Energy Transfer by 13.3% in the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock worth $395,270,000 after purchasing an additional 3,368,427 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ET has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Morgan Stanley lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. JPMorgan Chase & Co. lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Mizuho lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, UBS Group lifted their target price on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.29.

Energy Transfer Price Performance

Shares of NYSE:ET traded down $0.07 during trading on Thursday, reaching $16.33. 6,029,352 shares of the company’s stock traded hands, compared to its average volume of 9,580,107. Energy Transfer LP has a fifty-two week low of $12.46 and a fifty-two week high of $16.48. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The firm has a market cap of $55.03 billion, a PE ratio of 14.98, a P/E/G ratio of 0.45 and a beta of 1.66. The company has a 50-day simple moving average of $15.76 and a 200-day simple moving average of $15.07.

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

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders 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 dividend yield of 7.76%. Energy Transfer’s payout ratio is 116.51%.

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.