Sunbelt Securities Inc. Boosts Holdings in Energy Transfer LP (NYSE:ET)

Sunbelt Securities Inc. boosted its position in shares of Energy Transfer LP (NYSE:ET) by 6.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 291,231 shares of the pipeline company’s stock after purchasing an additional 17,136 shares during the period. Sunbelt Securities Inc.’s holdings in Energy Transfer were worth $4,674,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Empowered Funds LLC lifted its holdings 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 valued at $5,567,000 after purchasing an additional 45,172 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in Energy Transfer by 30.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after acquiring an additional 57,184 shares during the period. FMR LLC boosted its holdings in shares of Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after acquiring an additional 10,195,768 shares during the last quarter. Clear Street Derivatives LLC bought a new stake in shares of Energy Transfer in the third quarter worth approximately $2,565,000. Finally, GFS Advisors LLC raised its holdings in shares of Energy Transfer by 19,380.5% during the third quarter. GFS Advisors LLC now owns 60,000 shares of the pipeline company’s stock valued at $963,000 after purchasing an additional 59,692 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Trading Down 0.5 %

Shares of Energy Transfer stock opened at $18.74 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The firm has a market cap of $64.16 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 0.63 and a beta of 1.70. Energy Transfer LP has a twelve month low of $13.11 and a twelve month high of $20.02. The business has a 50-day moving average price of $17.35 and a 200-day moving average price of $16.44.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS. Equities research analysts anticipate that Energy Transfer LP will post 1.32 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. Shareholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.88%. Energy Transfer’s payout ratio is currently 94.85%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ET. Bank of America initiated coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. UBS Group raised their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada upped their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $20.38.

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.