Energy Transfer LP (NYSE:ET) Holdings Lowered by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lowered its stake in Energy Transfer LP (NYSE:ET) by 56.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 276,229 shares of the pipeline company’s stock after selling 358,395 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Energy Transfer were worth $4,440,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. FMR LLC increased its position in shares of Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after acquiring an additional 10,195,768 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in Energy Transfer by 12.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after purchasing an additional 4,141,715 shares during the period. International Assets Investment Management LLC grew its position in Energy Transfer by 1,491.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after purchasing an additional 3,913,266 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Energy Transfer by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after purchasing an additional 3,106,631 shares during the period. Finally, Citigroup Inc. lifted its holdings in shares of Energy Transfer by 45.9% in the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after purchasing an additional 3,013,973 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Down 0.9 %

Shares of Energy Transfer stock opened at $19.04 on Friday. The firm has a market cap of $65.19 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 0.63 and a beta of 1.70. The stock has a 50-day simple moving average of $17.58 and a 200-day simple moving average of $16.54. Energy Transfer LP has a 52-week low of $13.54 and a 52-week high of $20.02. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same period in the previous year, the company earned $0.31 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. On average, equities research analysts expect that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 6.78%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 94.85%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ET shares. Royal Bank of Canada upped their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Bank of America began coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, UBS Group raised their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Energy Transfer presently has an average rating of “Buy” and an average price target of $20.38.

About Energy Transfer

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.