Avior Wealth Management LLC Buys 7,560 Shares of Energy Transfer LP (NYSE:ET)

Avior Wealth Management LLC lifted its stake in Energy Transfer LP (NYSE:ET) by 12.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 68,428 shares of the pipeline company’s stock after buying an additional 7,560 shares during the quarter. Avior Wealth Management LLC’s holdings in Energy Transfer were worth $1,341,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Private Client Services LLC raised its holdings in Energy Transfer by 3.1% in the fourth quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after buying an additional 511 shares during the last quarter. Daymark Wealth Partners LLC increased its position in shares of Energy Transfer by 0.3% during the fourth quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after acquiring an additional 547 shares in the last quarter. Marcum Wealth LLC raised its holdings in Energy Transfer by 4.6% in the 4th quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock worth $252,000 after acquiring an additional 561 shares during the last quarter. Financial Freedom LLC lifted its position in Energy Transfer by 26.8% in the 4th quarter. Financial Freedom LLC now owns 2,906 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 614 shares in the last quarter. Finally, Fortis Capital Management LLC boosted its stake in Energy Transfer by 2.0% during the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock valued at $513,000 after purchasing an additional 634 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ET shares. The Goldman Sachs Group boosted their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Bank of America started coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Barclays lifted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company increased their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada lifted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Trading Up 0.7 %

Shares of Energy Transfer stock opened at $21.07 on Friday. Energy Transfer LP has a 1-year low of $13.79 and a 1-year high of $21.45. The company’s fifty day simple moving average is $19.23 and its 200-day simple moving average is $17.28. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The stock has a market capitalization of $72.14 billion, a PE ratio of 15.49, a P/E/G ratio of 0.55 and a beta of 1.70.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the previous year, the company posted $0.31 earnings per share. Energy Transfer’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 6.12%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is 94.85%.

About Energy Transfer

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.