Sheaff Brock Investment Advisors LLC Sells 4,744 Shares of Energy Transfer LP (NYSE:ET)

Sheaff Brock Investment Advisors LLC trimmed its holdings in Energy Transfer LP (NYSE:ET) by 4.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 110,543 shares of the pipeline company’s stock after selling 4,744 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Energy Transfer were worth $1,739,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the business. Freestone Capital Holdings LLC bought a new stake in Energy Transfer in the 1st quarter worth about $499,000. CreativeOne Wealth LLC grew its stake in shares of Energy Transfer by 14.5% during the 1st quarter. CreativeOne Wealth LLC now owns 24,810 shares of the pipeline company’s stock valued at $390,000 after purchasing an additional 3,141 shares during the period. Mattern Wealth Management LLC grew its stake in shares of Energy Transfer by 22.6% during the 1st quarter. Mattern Wealth Management LLC now owns 36,243 shares of the pipeline company’s stock valued at $570,000 after purchasing an additional 6,691 shares during the period. Payden & Rygel Investment Group bought a new stake in shares of Energy Transfer during the 1st quarter valued at about $20,164,000. Finally, Crewe Advisors LLC grew its stake in shares of Energy Transfer by 2,170.8% during the 1st quarter. Crewe Advisors LLC now owns 12,194 shares of the pipeline company’s stock valued at $192,000 after purchasing an additional 11,657 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Energy Transfer Price Performance

ET stock traded up $0.14 during midday trading on Friday, hitting $16.27. The company’s stock had a trading volume of 22,018,182 shares, compared to its average volume of 12,707,945. The firm has a market capitalization of $54.83 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 0.44 and a beta of 1.66. Energy Transfer LP has a 12 month low of $12.46 and a 12 month high of $16.50. The company has a 50 day moving average of $15.87 and a two-hundred day moving average of $15.33. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37.

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 the consensus estimate of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company had revenue of $21.63 billion for the quarter, compared to analysts’ expectations of $20.91 billion. During the same quarter in the previous year, the company posted $0.32 EPS. The business’s quarterly revenue was up 13.9% on a year-over-year basis. On average, analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 9th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 7.87%. The ex-dividend date is Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 116.51%.

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.