First Horizon Advisors Inc. Acquires 2,712 Shares of Energy Transfer LP (NYSE:ET)

First Horizon Advisors Inc. grew its stake in shares of Energy Transfer LP (NYSE:ET) by 22.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 14,596 shares of the pipeline company’s stock after purchasing an additional 2,712 shares during the period. First Horizon Advisors Inc.’s holdings in Energy Transfer were worth $201,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of ET. Mutual Advisors LLC grew its position in Energy Transfer by 112.9% in the 4th 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 in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Energy Transfer by 230.9% in the third quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock valued at $10,335,000 after acquiring an additional 513,989 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Energy Transfer by 3.3% in the fourth quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company’s stock valued at $390,000 after acquiring an additional 903 shares in the last quarter. Fractal Investments LLC increased its position in shares of Energy Transfer by 12.9% during the third quarter. Fractal Investments LLC now owns 5,682,061 shares of the pipeline company’s stock valued at $79,719,000 after acquiring an additional 647,885 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. lifted its holdings in Energy Transfer by 22.5% during the third quarter. Cutter & CO Brokerage Inc. now owns 421,372 shares of the pipeline company’s stock worth $5,912,000 after acquiring an additional 77,352 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of NYSE ET opened at $15.89 on Monday. The stock has a fifty day moving average of $15.46 and a 200-day moving average of $14.40. The stock has a market cap of $53.54 billion, a PE ratio of 14.58 and a beta of 1.63. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10. Energy Transfer LP has a fifty-two week low of $12.18 and a fifty-two week high of $16.07.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The business had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $21.46 billion. During the same period in the prior year, the company posted $0.34 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts anticipate that Energy Transfer LP will post 1.56 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be given a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.98%. The ex-dividend date is Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 115.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ET shares. UBS Group decreased their target price on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Mizuho restated a “buy” rating and set a $19.00 price objective (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Finally, Citigroup lifted their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Energy Transfer Company 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.