Larson Financial Group LLC Sells 2,384 Shares of Energy Transfer LP (NYSE:ET)

Larson Financial Group LLC reduced its holdings in shares of Energy Transfer LP (NYSE:ET) by 14.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,304 shares of the pipeline company’s stock after selling 2,384 shares during the quarter. Larson Financial Group LLC’s holdings in Energy Transfer were worth $230,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Empowered Funds LLC raised its stake in shares of Energy Transfer by 15.0% in the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after buying an additional 45,172 shares during the period. Kingsview Wealth Management LLC raised its stake in shares of Energy Transfer by 30.9% in the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after buying an additional 57,184 shares during the period. GFS Advisors LLC raised its stake in shares of Energy Transfer by 19,380.5% during the 3rd quarter. GFS Advisors LLC now owns 60,000 shares of the pipeline company’s stock valued at $963,000 after purchasing an additional 59,692 shares during the period. Icon Wealth Advisors LLC raised its stake in shares of Energy Transfer by 239.0% during the 3rd quarter. Icon Wealth Advisors LLC now owns 563,458 shares of the pipeline company’s stock valued at $9,044,000 after purchasing an additional 397,260 shares during the period. Finally, MAI Capital Management raised its stake in shares of Energy Transfer by 5.9% during the 3rd quarter. MAI Capital Management now owns 698,113 shares of the pipeline company’s stock valued at $11,205,000 after purchasing an additional 39,029 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

Shares of NYSE ET opened at $19.40 on Thursday. The firm has a market capitalization of $66.42 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.61 and a beta of 1.66. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The stock’s 50-day simple moving average is $16.85 and its two-hundred day simple moving average is $16.25. Energy Transfer LP has a twelve month low of $13.11 and a twelve month high of $19.71.

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

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.65%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s payout ratio is currently 94.85%.

Wall Street Analyst Weigh In

ET has been the topic of a number of analyst reports. UBS Group boosted 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. Royal Bank of Canada boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. 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 price target of $20.00.

About Energy Transfer

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.