Infrastructure Capital Advisors LLC Has $55.40 Million Stock Position in Energy Transfer LP (NYSE:ET)

Infrastructure Capital Advisors LLC reduced its position in Energy Transfer LP (NYSE:ET - Free Report) by 19.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,451,751 shares of the pipeline company's stock after selling 838,980 shares during the quarter. Energy Transfer accounts for about 7.5% of Infrastructure Capital Advisors LLC's holdings, making the stock its 5th largest holding. Infrastructure Capital Advisors LLC owned approximately 0.10% of Energy Transfer worth $55,401,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ET. Princeton Global Asset Management LLC lifted its stake in 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 purchasing an additional 650 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock worth $28,000 after buying an additional 1,668 shares during the period. LRI Investments LLC bought a new stake in shares of Energy Transfer in the 1st quarter valued at about $29,000. HWG Holdings LP purchased a new stake in Energy Transfer during the 2nd quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC grew its position in Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company's stock worth $40,000 after acquiring an additional 750 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Trading Up 2.3 %

Shares of NYSE:ET traded up $0.44 on Friday, hitting $19.86. The company had a trading volume of 16,083,810 shares, compared to its average volume of 13,722,960. The firm's 50-day simple moving average is $16.99 and its two-hundred day simple moving average is $16.30. The firm has a market capitalization of $68.00 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 0.62 and a beta of 1.66. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 1 year low of $13.11 and a 1 year high of $20.02.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 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 business had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same period last year, the business posted $0.31 earnings per share. Energy Transfer's quarterly revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently declared 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. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.50%. Energy Transfer's dividend payout ratio is presently 94.85%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ET. UBS Group increased their price objective on 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 increased their price target on shares of 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 initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a "buy" rating and a $20.00 price objective on the stock. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $20.00.

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.