Energy Transfer LP (NYSE:ET) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC reduced its holdings in Energy Transfer LP (NYSE:ET) by 7.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,217 shares of the pipeline company’s stock after selling 1,996 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Energy Transfer were worth $397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Activest Wealth Management raised its holdings in Energy Transfer by 33.9% during the 4th quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company’s stock worth $40,000 after buying an additional 736 shares during the period. Hexagon Capital Partners LLC raised its holdings in shares of Energy Transfer by 7.8% during the first quarter. Hexagon Capital Partners LLC now owns 10,155 shares of the pipeline company’s stock valued at $160,000 after acquiring an additional 737 shares during the period. Veracity Capital LLC lifted its position in shares of Energy Transfer by 2.3% in the 4th quarter. Veracity Capital LLC now owns 32,203 shares of the pipeline company’s stock valued at $444,000 after acquiring an additional 738 shares in the last quarter. Harbor Investment Advisory LLC boosted its stake in Energy Transfer by 42.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 750 shares during the period. Finally, Ethos Financial Group LLC grew its position in Energy Transfer by 5.0% during the 4th quarter. Ethos Financial Group LLC now owns 15,866 shares of the pipeline company’s stock worth $219,000 after purchasing an additional 753 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Price Performance

Shares of ET opened at $16.40 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The firm has a market cap of $55.27 billion, a PE ratio of 15.05, a PEG ratio of 0.44 and a beta of 1.66. The firm’s 50 day moving average price is $15.74 and its 200 day moving average price is $15.04. Energy Transfer LP has a twelve month low of $12.46 and a twelve month high of $16.48.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The business had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 EPS. As a group, research analysts expect that Energy Transfer LP will post 1.45 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were given a dividend of $0.317 per share. The ex-dividend date was Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a yield of 7.73%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 116.51%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ET shares. UBS Group raised their target price on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Mizuho raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Morgan Stanley upped their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. JPMorgan Chase & Co. raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Finally, Stifel Nicolaus upped their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.29.

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.