Avior Wealth Management LLC Has $306,000 Stake in Energy Transfer LP $ET

Avior Wealth Management LLC trimmed its holdings in shares of Energy Transfer LP (NYSE:ET) by 81.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,863 shares of the pipeline company’s stock after selling 72,215 shares during the period. Avior Wealth Management LLC’s holdings in Energy Transfer were worth $306,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Alps Advisors Inc. increased its holdings in Energy Transfer by 12.9% during the 1st quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company’s stock valued at $1,400,831,000 after purchasing an additional 8,613,645 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its holdings in Energy Transfer by 2.6% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 38,205,495 shares of the pipeline company’s stock valued at $710,240,000 after purchasing an additional 951,656 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its stake in shares of Energy Transfer by 0.8% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company’s stock valued at $449,329,000 after buying an additional 182,705 shares during the period. Energy Income Partners LLC increased its stake in shares of Energy Transfer by 12.0% in the 1st quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company’s stock valued at $429,802,000 after buying an additional 2,471,401 shares during the period. Finally, Westwood Holdings Group Inc. increased its stake in shares of Energy Transfer by 2.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 16,787,080 shares of the pipeline company’s stock valued at $312,072,000 after buying an additional 455,860 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Up 0.1%

NYSE:ET opened at $17.22 on Wednesday. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $59.11 billion, a P/E ratio of 13.35, a P/E/G ratio of 1.02 and a beta of 0.85. The stock’s fifty day simple moving average is $17.52 and its 200-day simple moving average is $17.58.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The firm’s revenue was down 7.2% on a year-over-year basis. During the same period last year, the company earned $0.35 EPS. Equities research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were issued a dividend of $0.33 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a yield of 7.7%. The ex-dividend date was Friday, August 8th. Energy Transfer’s dividend payout ratio is presently 102.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ET shares. TD Cowen started coverage on Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating and a $22.00 target price for the company. Cowen started coverage on Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating for the company. Wells Fargo & Company reissued an “overweight” rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Morgan Stanley reduced their price target on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Finally, Scotiabank began coverage on Energy Transfer in a research report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 price target on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.50.

Insiders Place Their Bets

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of Energy Transfer stock in a transaction on Wednesday, August 20th. The shares were purchased at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the acquisition, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.28% of the company’s stock.

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.