First Horizon Advisors Inc. Sells 5,030 Shares of Energy Transfer LP (NYSE:ET)

First Horizon Advisors Inc. reduced its stake in Energy Transfer LP (NYSE:ET) by 58.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,625 shares of the pipeline company’s stock after selling 5,030 shares during the period. First Horizon Advisors Inc.’s holdings in Energy Transfer were worth $58,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ET. Gamco Investors INC. ET AL raised its position in Energy Transfer by 373.2% in the 1st quarter. Gamco Investors INC. ET AL now owns 88,755 shares of the pipeline company’s stock valued at $1,396,000 after buying an additional 70,000 shares during the last quarter. SVB Wealth LLC increased its position in shares of Energy Transfer by 40.1% during the first quarter. SVB Wealth LLC now owns 31,669 shares of the pipeline company’s stock valued at $498,000 after acquiring an additional 9,072 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its position in shares of Energy Transfer by 31.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 159,264 shares of the pipeline company’s stock valued at $2,505,000 after buying an additional 38,383 shares during the last quarter. Waverly Advisors LLC lifted its stake in shares of Energy Transfer by 1.1% during the 1st quarter. Waverly Advisors LLC now owns 225,052 shares of the pipeline company’s stock valued at $3,540,000 after buying an additional 2,521 shares in the last quarter. Finally, Invenomic Capital Management LP purchased a new position in shares of Energy Transfer in the first quarter valued at $17,205,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. UBS Group upped their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Finally, Royal Bank of Canada upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $20.00.

Energy Transfer Trading Up 0.5 %

NYSE ET opened at $19.07 on Monday. The company has a market capitalization of $65.29 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 0.61 and a beta of 1.66. The company’s 50-day simple moving average is $16.66 and its two-hundred day simple moving average is $16.18. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. Energy Transfer LP has a one year low of $13.11 and a one year high of $19.20.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 EPS. Equities analysts forecast that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business 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 annualized dividend and a yield of 6.76%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

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.