Sound Income Strategies LLC Grows Holdings in Energy Transfer LP (NYSE:ET)

Sound Income Strategies LLC boosted its position in shares of Energy Transfer LP (NYSE:ET) by 26.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,066 shares of the pipeline company’s stock after acquiring an additional 3,410 shares during the period. Sound Income Strategies LLC’s holdings in Energy Transfer were worth $261,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Allworth Financial LP grew its position in shares of Energy Transfer by 47.7% during the fourth quarter. Allworth Financial LP now owns 11,365 shares of the pipeline company’s stock worth $157,000 after purchasing an additional 3,670 shares in the last quarter. Bleakley Financial Group LLC boosted its position in shares of Energy Transfer by 5.1% during the fourth quarter. Bleakley Financial Group LLC now owns 20,948 shares of the pipeline company’s stock worth $289,000 after acquiring an additional 1,023 shares during the last quarter. Strategic Blueprint LLC purchased a new position in Energy Transfer during the fourth quarter valued at $209,000. International Assets Investment Management LLC increased its holdings in Energy Transfer by 12.1% in the 4th quarter. International Assets Investment Management LLC now owns 272,243 shares of the pipeline company’s stock valued at $3,757,000 after acquiring an additional 29,483 shares during the last quarter. Finally, RFG Advisory LLC lifted its stake in Energy Transfer by 44.0% in the 4th quarter. RFG Advisory LLC now owns 27,565 shares of the pipeline company’s stock worth $380,000 after purchasing an additional 8,417 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 1.7 %

ET stock traded down $0.26 during mid-day trading on Friday, reaching $15.66. 36,043,393 shares of the stock traded hands, compared to its average volume of 13,403,997. Energy Transfer LP has a one year low of $12.46 and a one year high of $16.50. The stock has a market capitalization of $52.77 billion, a PE ratio of 14.37, a PEG ratio of 0.42 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. The business has a 50-day moving average price of $15.95 and a two-hundred day moving average price of $15.50.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The firm had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. Energy Transfer’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. Equities research analysts expect that Energy Transfer LP will post 1.49 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 9th will be paid a dividend of $0.32 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a dividend yield of 8.17%. The ex-dividend date is Friday, August 9th. Energy Transfer’s dividend payout ratio (DPR) is currently 117.43%.

Wall Street Analysts Forecast Growth

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

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.