Insight Folios Inc Decreases Stake in Energy Transfer LP (NYSE:ET)

Insight Folios Inc lessened its stake in shares of Energy Transfer LP (NYSE:ET) by 12.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 516,520 shares of the pipeline company’s stock after selling 76,518 shares during the quarter. Energy Transfer makes up 3.3% of Insight Folios Inc’s holdings, making the stock its 2nd biggest holding. Insight Folios Inc’s holdings in Energy Transfer were worth $8,125,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ET. NBC Securities Inc. lifted its holdings in shares of Energy Transfer by 4.3% during the first quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock worth $886,000 after purchasing an additional 2,326 shares during the period. Mutual Advisors LLC lifted its holdings in shares of Energy Transfer by 112.9% during the fourth quarter. Mutual Advisors LLC now owns 146,943 shares of the pipeline company’s stock worth $2,028,000 after purchasing an additional 77,938 shares during the period. US Bancorp DE lifted its holdings in shares of Energy Transfer by 95.8% during the fourth quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock worth $2,013,000 after purchasing an additional 71,386 shares during the period. Savant Capital LLC lifted its holdings in shares of Energy Transfer by 19.7% during the fourth quarter. Savant Capital LLC now owns 26,335 shares of the pipeline company’s stock worth $363,000 after purchasing an additional 4,340 shares during the period. Finally, Arkadios Wealth Advisors lifted its holdings in shares of Energy Transfer by 3.3% during the fourth quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company’s stock worth $390,000 after purchasing an additional 903 shares during the period. Institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Stifel Nicolaus lifted their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Mizuho lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. UBS Group lifted their price target on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Morgan Stanley boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.29.

Energy Transfer Stock Down 0.4 %

Shares of NYSE ET traded down $0.07 during trading on Thursday, hitting $16.33. 6,029,352 shares of the company traded hands, compared to its average volume of 9,580,107. The business’s fifty day moving average is $15.76 and its 200 day moving average is $15.07. Energy Transfer LP has a fifty-two week low of $12.46 and a fifty-two week high of $16.48. The firm has a market capitalization 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. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company had revenue of $21.63 billion for the quarter, compared to analyst estimates of $20.91 billion. During the same quarter in the prior year, the company posted $0.32 EPS. Energy Transfer’s revenue for the quarter was up 13.9% on a year-over-year basis. Equities research analysts predict that Energy Transfer LP will post 1.45 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a dividend of $0.317 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.27 annualized dividend and a dividend yield of 7.76%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 116.51%.

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.