Cetera Investment Advisers Boosts Stock Holdings in Energy Transfer LP (NYSE:ET)

Cetera Investment Advisers boosted its position in Energy Transfer LP (NYSE:ET - Free Report) by 15.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,609,401 shares of the pipeline company's stock after purchasing an additional 212,564 shares during the period. Cetera Investment Advisers' holdings in Energy Transfer were worth $29,919,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ET. Capital A Wealth Management LLC bought a new position in Energy Transfer in the fourth quarter valued at $26,000. Fourth Dimension Wealth LLC bought a new position in Energy Transfer in the fourth quarter valued at $29,000. HWG Holdings LP bought a new position in Energy Transfer in the first quarter valued at $38,000. Vermillion Wealth Management Inc. bought a new position in Energy Transfer in the fourth quarter valued at $46,000. Finally, Mascagni Wealth Management Inc. bought a new position in Energy Transfer in the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 38.22% of the company's stock.

Energy Transfer Stock Performance

Energy Transfer stock opened at $17.73 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.41. The firm has a 50-day moving average of $17.79 and a 200-day moving average of $18.28. The firm has a market cap of $60.83 billion, a P/E ratio of 13.43, a P/E/G ratio of 0.92 and a beta of 0.79. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The company had revenue of $21.02 billion during the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. Energy Transfer's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. Sell-side analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be issued a dividend of $0.33 per share. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.45%. The ex-dividend date of this dividend is Friday, August 8th. Energy Transfer's dividend payout ratio is currently 100.00%.

Insider Buying and Selling

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $18.48, for a total value of $25,299.12. Following the completion of the sale, the director directly owned 24,523 shares in the company, valued at $453,185.04. This trade represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 3.28% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. TD Cowen assumed coverage on Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 target price on the stock. Cowen assumed coverage on Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. reduced their target price on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Mizuho increased their target price on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company reduced their price objective on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $22.58.

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.

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