Enclave Advisors LLC Trims Position in Energy Transfer LP $ET

Enclave Advisors LLC cut its stake in shares of Energy Transfer LP (NYSE:ET) by 22.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,431 shares of the pipeline company’s stock after selling 57,837 shares during the period. Enclave Advisors LLC’s holdings in Energy Transfer were worth $3,457,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Ryan Investment Management Inc. bought a new stake in Energy Transfer during the 2nd quarter worth approximately $31,000. CNB Bank grew its position in shares of Energy Transfer by 111.1% during the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 1,000 shares in the last quarter. HHM Wealth Advisors LLC grew its position in shares of Energy Transfer by 54.4% during the 2nd quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 800 shares in the last quarter. Crowley Wealth Management Inc. bought a new position in shares of Energy Transfer in the second quarter worth $44,000. Finally, Pacific Center for Financial Services raised its position in shares of Energy Transfer by 34.7% in the first quarter. Pacific Center for Financial Services now owns 2,586 shares of the pipeline company’s stock worth $48,000 after buying an additional 666 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ET. Royal Bank Of Canada upgraded Energy Transfer to a “moderate buy” rating in a research report on Monday, December 15th. Scotiabank dropped their price target on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a research report on Thursday, November 13th. Morgan Stanley decreased their price objective on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 2nd. Barclays reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Energy Transfer in a research note on Wednesday, October 15th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Energy Transfer in a research note on Thursday, December 18th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.

Insiders Place Their Bets

In other Energy Transfer news, Director Kelcy L. Warren purchased 1,000,000 shares of the stock in a transaction on Wednesday, November 19th. The stock was acquired at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the purchase, the director directly owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.28% of the stock is owned by corporate insiders.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $16.36 on Wednesday. The stock’s 50-day moving average is $16.66 and its 200 day moving average is $17.22. The stock has a market cap of $56.15 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 0.98 and a beta of 0.65. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.06). The firm had revenue of $19.95 billion during the quarter, compared to analysts’ expectations of $21.84 billion. Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were issued a dividend of $0.3325 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.33 annualized dividend and a dividend yield of 8.1%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is 106.40%.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.