IHT Wealth Management LLC Sells 6,088 Shares of Energy Transfer LP (NYSE:ET)

IHT Wealth Management LLC reduced its position in shares of Energy Transfer LP (NYSE:ET) by 3.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 166,416 shares of the pipeline company’s stock after selling 6,088 shares during the quarter. IHT Wealth Management LLC’s holdings in Energy Transfer were worth $2,671,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Fortis Capital Management LLC increased its holdings in Energy Transfer by 2.0% in the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock worth $513,000 after buying an additional 634 shares in the last quarter. Princeton Global Asset Management LLC grew its stake in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares during the period. Veracity Capital LLC raised its holdings in shares of Energy Transfer by 2.0% during the second quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock valued at $545,000 after purchasing an additional 659 shares during the last quarter. Haverford Trust Co raised its holdings in shares of Energy Transfer by 0.7% during the third quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock valued at $1,640,000 after purchasing an additional 675 shares during the last quarter. Finally, Morton Capital Management LLC CA lifted its position in Energy Transfer by 1.6% during the second quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock valued at $720,000 after purchasing an additional 699 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Performance

NYSE:ET opened at $18.97 on Thursday. The stock has a 50-day simple moving average of $17.17 and a two-hundred day simple moving average of $16.37. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. Energy Transfer LP has a 52-week low of $13.11 and a 52-week high of $20.02. The firm has a market capitalization of $64.93 billion, a PE ratio of 13.94, a P/E/G ratio of 0.63 and a beta of 1.70.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same period in the prior year, the firm posted $0.31 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Analysts forecast that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.80%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Analyst Upgrades and Downgrades

ET has been the subject of a number of research reports. UBS Group boosted their target price on shares of 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 upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Energy Transfer has a consensus rating of “Buy” and an average target price 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.