Energy Transfer LP (NYSE:ET) Holdings Trimmed by Kovack Advisors Inc.

Kovack Advisors Inc. decreased its holdings in shares of Energy Transfer LP (NYSE:ET) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,352 shares of the pipeline company’s stock after selling 5,186 shares during the quarter. Kovack Advisors Inc.’s holdings in Energy Transfer were worth $1,221,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Empowered Funds LLC boosted its position in Energy Transfer by 15.0% during the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after purchasing an additional 45,172 shares during the last quarter. Watts Gwilliam & Co. LLC purchased a new stake in shares of Energy Transfer during the 4th quarter worth about $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in shares of Energy Transfer by 4.0% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after buying an additional 293,088 shares during the last quarter. Forvis Mazars Wealth Advisors LLC grew its stake in shares of Energy Transfer by 164.1% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock valued at $1,186,000 after buying an additional 37,633 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its holdings in Energy Transfer by 30.9% in the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after buying an additional 57,184 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $18.94 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The business has a 50 day moving average price of $19.91 and a 200 day moving average price of $17.99. The company has a market cap of $65.00 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a twelve month low of $14.52 and a twelve month high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.86%. Energy Transfer’s payout ratio is presently 101.56%.

Analyst Ratings Changes

ET has been the subject of a number of analyst reports. Royal Bank of Canada lifted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Citigroup upped their price objective on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday. The Goldman Sachs Group raised their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Stifel Nicolaus upped their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Barclays increased their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $21.55.

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.