Larson Financial Group LLC Cuts Stock Position in Energy Transfer LP (NYSE:ET)

Larson Financial Group LLC reduced its position in Energy Transfer LP (NYSE:ET) by 14.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ET. Silvercrest Asset Management Group LLC boosted its holdings in Energy Transfer by 31.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 159,264 shares of the pipeline company’s stock valued at $2,505,000 after acquiring an additional 38,383 shares during the period. Tidal Investments LLC boosted its holdings in Energy Transfer by 12.9% during the 1st quarter. Tidal Investments LLC now owns 86,196 shares of the pipeline company’s stock valued at $1,342,000 after acquiring an additional 9,849 shares during the period. LRI Investments LLC purchased a new stake in Energy Transfer during the 1st quarter valued at about $29,000. Sanibel Captiva Trust Company Inc. boosted its holdings in Energy Transfer by 18.5% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 23,875 shares of the pipeline company’s stock valued at $376,000 after acquiring an additional 3,725 shares during the period. Finally, Burney Co. boosted its holdings in Energy Transfer by 288.1% during the 1st quarter. Burney Co. now owns 63,046 shares of the pipeline company’s stock valued at $992,000 after acquiring an additional 46,800 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Up 1.0 %

Shares of NYSE:ET opened at $19.40 on Thursday. Energy Transfer LP has a 52-week low of $13.11 and a 52-week high of $19.71. 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 stock has a 50 day moving average price of $16.85 and a 200-day moving average price of $16.25. 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 (NYSE:ET) last announced 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 return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the prior year, the company earned $0.31 EPS. The business’s revenue was up .2% compared to the same quarter last year. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Analysts Set New Price Targets

ET has been the subject of several analyst reports. UBS Group increased their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Royal Bank of Canada increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Bank of America began coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Energy Transfer presently has a consensus rating of “Buy” and an average target price of $20.00.

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.