Avantax Advisory Services Inc. Increases Position in Energy Transfer LP (NYSE:ET)

Avantax Advisory Services Inc. raised its position in Energy Transfer LP (NYSE:ET) by 12.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 182,783 shares of the pipeline company’s stock after purchasing an additional 20,565 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Energy Transfer were worth $3,581,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ET. Assetmark Inc. raised its position in Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Energy Transfer by 7.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 186,286 shares of the pipeline company’s stock worth $2,990,000 after acquiring an additional 12,284 shares during the period. Curi RMB Capital LLC increased its position in shares of Energy Transfer by 8.7% during the third quarter. Curi RMB Capital LLC now owns 44,930 shares of the pipeline company’s stock worth $721,000 after acquiring an additional 3,608 shares during the period. Empowered Funds LLC increased its position in shares of Energy Transfer by 15.0% during the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after acquiring an additional 45,172 shares during the period. Finally, Mizuho Markets Americas LLC increased its position in shares of Energy Transfer by 62.3% during the third quarter. Mizuho Markets Americas LLC now owns 483,822 shares of the pipeline company’s stock worth $7,765,000 after acquiring an additional 185,805 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

NYSE ET opened at $18.72 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 52-week low of $14.90 and a 52-week high of $21.45. The business’s 50-day moving average price is $19.65 and its 200 day moving average price is $18.17. The firm has a market cap of $64.22 billion, a P/E ratio of 14.62, a P/E/G ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, equities research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a dividend of $0.325 per share. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.95%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Citigroup upped their price objective on Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Wells Fargo & Company upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, Stifel Nicolaus boosted their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer 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.