Kovack Advisors Inc. Trims Stock Position in Energy Transfer LP (NYSE:ET)

Kovack Advisors Inc. lowered its position in Energy Transfer LP (NYSE:ET) by 12.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 67,538 shares of the pipeline company’s stock after selling 9,934 shares during the period. Kovack Advisors Inc.’s holdings in Energy Transfer were worth $1,084,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Headlands Technologies LLC purchased a new position in shares of Energy Transfer in the 1st quarter valued at approximately $86,000. Kingsview Wealth Management LLC grew its position in Energy Transfer by 17.1% in the 1st quarter. Kingsview Wealth Management LLC now owns 143,825 shares of the pipeline company’s stock valued at $2,262,000 after buying an additional 20,961 shares during the last quarter. Forum Financial Management LP increased its stake in Energy Transfer by 3.4% in the 1st quarter. Forum Financial Management LP now owns 119,075 shares of the pipeline company’s stock valued at $1,873,000 after buying an additional 3,929 shares during the period. Anthracite Investment Company Inc. raised its position in Energy Transfer by 8.4% during the 1st quarter. Anthracite Investment Company Inc. now owns 259,210 shares of the pipeline company’s stock worth $4,077,000 after buying an additional 20,000 shares during the last quarter. Finally, Nwam LLC lifted its stake in shares of Energy Transfer by 36.6% in the 1st quarter. Nwam LLC now owns 26,526 shares of the pipeline company’s stock worth $427,000 after acquiring an additional 7,102 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Activity at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.28% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. UBS Group boosted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada raised their price target on 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 company has a consensus rating of “Buy” and an average target price of $20.00.

Energy Transfer Price Performance

ET stock opened at $17.09 on Thursday. The firm has a 50 day moving average of $16.35 and a 200-day moving average of $16.07. The company has a market cap of $58.51 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 0.52 and a beta of 1.66. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 12-month low of $13.11 and a 12-month high of $17.71.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The firm 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%. Energy Transfer’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 earnings per share. As a group, equities analysts expect that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be given a $0.3225 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 7.55%. Energy Transfer’s dividend payout ratio is presently 94.85%.

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.