Energy Transfer LP (NYSE:ET) Shares Sold by Morling Financial Advisors LLC

Morling Financial Advisors LLC lowered its stake in Energy Transfer LP (NYSE:ET) by 15.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,620 shares of the pipeline company’s stock after selling 4,475 shares during the quarter. Morling Financial Advisors LLC’s holdings in Energy Transfer were worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC increased its stake in Energy Transfer by 88.2% in the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 927 shares in the last quarter. Ronald Blue Trust Inc. purchased a new position in Energy Transfer in the 3rd quarter worth about $34,000. Harbor Investment Advisory LLC boosted its position in Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 750 shares during the period. BluePath Capital Management LLC acquired a new stake in Energy Transfer during the 3rd quarter worth about $37,000. Finally, Fortitude Family Office LLC acquired a new stake in Energy Transfer during the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Down 0.2 %

Shares of Energy Transfer stock traded down $0.03 during trading on Wednesday, hitting $15.87. 8,459,621 shares of the stock traded hands, compared to its average volume of 12,422,026. The stock has a market cap of $53.47 billion, a P/E ratio of 14.56 and a beta of 1.64. 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 twelve month low of $12.18 and a twelve month high of $16.04. The company has a fifty day moving average price of $15.27 and a two-hundred day moving average price of $14.29.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. The business had revenue of $20.53 billion during the quarter, compared to analyst estimates of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS. Equities research analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Wednesday, February 7th were issued a $0.315 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.31. This represents a $1.26 annualized dividend and a yield of 7.94%. The ex-dividend date of this dividend was Tuesday, February 6th. Energy Transfer’s payout ratio is 115.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ET shares. Mizuho restated a “buy” rating and set a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. UBS Group decreased their price objective 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. Finally, Citigroup raised their price objective on 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.