Avior Wealth Management LLC Buys 19,045 Shares of Energy Transfer LP (NYSE:ET)

Avior Wealth Management LLC increased its holdings in Energy Transfer LP (NYSE:ET) by 45.5% in the 3rd quarter, Holdings Channel reports. The fund owned 60,868 shares of the pipeline company’s stock after buying an additional 19,045 shares during the quarter. Avior Wealth Management LLC’s holdings in Energy Transfer were worth $977,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Princeton Global Asset Management LLC boosted its holdings in shares of 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 buying an additional 650 shares during the last quarter. Assetmark Inc. boosted 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 last quarter. LRI Investments LLC purchased a new position in shares of Energy Transfer in the first quarter worth approximately $29,000. HWG Holdings LP purchased a new position in shares of Energy Transfer in the second quarter worth approximately $33,000. Finally, Sugarloaf Wealth Management LLC boosted its holdings in shares of Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after buying an additional 750 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ET shares. Royal Bank of Canada lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. UBS Group lifted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Bank of America initiated coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Energy Transfer presently has a consensus rating of “Buy” and a consensus target price of $20.00.

Insider Buying and Selling

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. This represents a 3.50 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.28% of the stock is owned by insiders.

Energy Transfer Price Performance

Energy Transfer stock opened at $18.29 on Thursday. The company has a market cap of $62.62 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 0.53 and a beta of 1.66. The firm’s fifty day moving average is $16.55 and its 200 day moving average is $16.14. 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 52-week low of $13.11 and a 52-week high of $18.37.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter in the previous year, the business posted $0.31 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. Sell-side analysts forecast that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 7.05%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

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.