Arkadios Wealth Advisors Sells 3,520 Shares of Energy Transfer LP (NYSE:ET)

Arkadios Wealth Advisors trimmed its position in Energy Transfer LP (NYSE:ET) by 3.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 109,826 shares of the pipeline company’s stock after selling 3,520 shares during the period. Arkadios Wealth Advisors’ holdings in Energy Transfer were worth $2,151,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Princeton Global Asset Management LLC boosted its position in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. boosted its position in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new position in Energy Transfer in the 4th quarter valued at $29,000. HWG Holdings LP bought a new position in Energy Transfer in the 2nd quarter valued at $33,000. Finally, Sugarloaf Wealth Management LLC boosted its position in Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after buying an additional 750 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ET has been the topic of several recent research reports. Royal Bank of Canada raised their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. The Goldman Sachs Group raised their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Bank of America initiated coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Barclays raised their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company raised their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Stock Performance

ET stock opened at $20.28 on Friday. The business’s 50-day moving average price is $19.02 and its two-hundred day moving average price is $17.19. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The firm has a market cap of $69.45 billion, a PE ratio of 14.91, a P/E/G ratio of 0.57 and a beta of 1.70. Energy Transfer LP has a 1-year low of $13.60 and a 1-year high of $20.40.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter last year, the business posted $0.31 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts forecast that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 6.36%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio is 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.