IFG Advisory LLC Has $2.43 Million Stock Holdings in Energy Transfer LP (NYSE:ET)

Key Points

• IFG Advisory LLC increased its stake in Energy Transfer LP by 19.5% during the first quarter, holding a total of 130,667 shares worth approximately $2.43 million.
• Energy Transfer recently declared a quarterly dividend of $0.33 per share, representing an annualized yield of 7.4% and a payout ratio of nearly 99%.
• The stock has faced fluctuation, currently sitting at $17.80 with a 52-week range of $14.60 to $21.45, while several analysts have adjusted their price targets around $22.

IFG Advisory LLC lifted its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 19.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,667 shares of the pipeline company's stock after purchasing an additional 21,366 shares during the period. IFG Advisory LLC's holdings in Energy Transfer were worth $2,429,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Strategic Advocates LLC raised its position in shares of Energy Transfer by 18.8% during the first quarter. Strategic Advocates LLC now owns 12,835 shares of the pipeline company's stock worth $239,000 after purchasing an additional 2,035 shares during the period. Commerce Bank acquired a new stake in shares of Energy Transfer during the first quarter worth $92,607,000. MONECO Advisors LLC raised its position in shares of Energy Transfer by 11.0% during the first quarter. MONECO Advisors LLC now owns 49,342 shares of the pipeline company's stock worth $917,000 after purchasing an additional 4,893 shares during the period. Moors & Cabot Inc. raised its position in shares of Energy Transfer by 2.1% during the first quarter. Moors & Cabot Inc. now owns 464,340 shares of the pipeline company's stock worth $8,632,000 after purchasing an additional 9,361 shares during the period. Finally, US Bancorp DE raised its position in shares of Energy Transfer by 56.7% during the first quarter. US Bancorp DE now owns 772,821 shares of the pipeline company's stock worth $14,367,000 after purchasing an additional 279,714 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Down 1.3%

ET opened at $17.80 on Friday. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The business has a 50-day moving average of $17.79 and a 200-day moving average of $18.22. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. The company has a market capitalization of $61.09 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.92 and a beta of 0.83.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly 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. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The company had revenue of $21.02 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same period last year, the business earned $0.32 EPS. The business's quarterly revenue was down 2.8% on a year-over-year basis. Equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be paid a dividend of $0.33 per share. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.4%. Energy Transfer's dividend payout ratio (DPR) is 99.24%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ET. Mizuho boosted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. TD Cowen assumed coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating and a $22.00 price target on the stock. Cowen assumed coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating on the stock. JPMorgan Chase & Co. lowered their price target on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Finally, Wells Fargo & Company lowered their price target on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.58.

Insider Buying and Selling at Energy Transfer

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

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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