Kovack Advisors Inc. Sells 7,161 Shares of Energy Transfer LP (NYSE:ET)

Kovack Advisors Inc. reduced its position in Energy Transfer LP (NYSE:ETFree Report) by 8.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 76,259 shares of the pipeline company’s stock after selling 7,161 shares during the period. Kovack Advisors Inc.’s holdings in Energy Transfer were worth $1,200,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ET. Northwest Financial Advisors purchased a new position in shares of Energy Transfer in the fourth quarter valued at $25,000. Rise Advisors LLC increased its position in shares of Energy Transfer by 88.2% during the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after buying an additional 927 shares during the period. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Energy Transfer in the fourth quarter worth about $33,000. Harbor Investment Advisory LLC grew its stake in Energy Transfer by 42.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 750 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in Energy Transfer during the 4th quarter worth approximately $34,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ET has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Stifel Nicolaus boosted their target price on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Mizuho raised their price target on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Morgan Stanley boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Finally, UBS Group raised their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

Check Out Our Latest Stock Report on ET

Energy Transfer Stock Performance

Shares of NYSE ET opened at $16.33 on Friday. The stock’s 50-day moving average is $15.76 and its 200 day moving average is $15.07. The stock has a market cap of $55.03 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 0.45 and a beta of 1.66. Energy Transfer LP has a 1-year low of $12.46 and a 1-year high of $16.48. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ETGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS 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 was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 earnings per share. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.45 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were paid a $0.317 dividend. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a yield of 7.76%. Energy Transfer’s payout ratio is currently 116.51%.

Energy Transfer Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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