Naviter Wealth LLC Buys New Position in Energy Transfer LP (NYSE:ET)

Naviter Wealth LLC acquired a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 15,700 shares of the pipeline company's stock, valued at approximately $294,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in Energy Transfer by 15.7% during the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock worth $756,840,000 after acquiring an additional 5,254,721 shares during the period. Kayne Anderson Capital Advisors LP lifted its position in Energy Transfer by 7.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company's stock worth $469,920,000 after acquiring an additional 1,723,683 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Energy Transfer by 5.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company's stock worth $387,416,000 after acquiring an additional 1,093,381 shares during the period. Westwood Holdings Group Inc. lifted its position in Energy Transfer by 18.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company's stock worth $319,929,000 after acquiring an additional 2,512,060 shares during the period. Finally, Natixis lifted its position in Energy Transfer by 7.1% during the 4th quarter. Natixis now owns 14,619,124 shares of the pipeline company's stock worth $286,389,000 after acquiring an additional 962,800 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction on Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the transaction, the director now owns 24,523 shares in the company, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.28% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price target on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Citigroup reissued a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Royal Bank Of Canada reissued an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a report on Tuesday, March 25th. UBS Group reissued a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, Wells Fargo & Company reduced their price objective on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.64.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $18.21 on Monday. The company has a market cap of $62.48 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.59 and a beta of 0.78. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.41. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The business has a fifty day simple moving average of $17.58 and a 200-day simple moving average of $18.49.

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

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were given a $0.3275 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.20%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is currently 99.24%.

Energy Transfer Company 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.

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