Atria Investments Inc Has $320,000 Position in Energy Transfer LP (NYSE:ET)

Atria Investments Inc cut its position in shares of Energy Transfer LP (NYSE:ET) by 21.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,909 shares of the pipeline company’s stock after selling 5,396 shares during the quarter. Atria Investments Inc’s holdings in Energy Transfer were worth $320,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC increased its holdings in Energy Transfer by 15.7% in the 3rd quarter. Lindbrook Capital LLC now owns 143,950 shares of the pipeline company’s stock valued at $2,310,000 after buying an additional 19,547 shares during the period. Assetmark Inc. boosted its position in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares in the last quarter. Executive Wealth Management LLC bought a new stake in Energy Transfer in the third quarter valued at about $263,000. CWA Asset Management Group LLC acquired a new position in Energy Transfer in the third quarter worth about $375,000. Finally, Leavell Investment Management Inc. acquired a new position in Energy Transfer in the third quarter worth about $405,000. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

Energy Transfer stock opened at $19.06 on Friday. The business’s fifty day moving average is $16.66 and its two-hundred day moving average is $16.18. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The firm has a market cap of $65.26 billion, a P/E ratio of 14.01, a P/E/G ratio of 0.55 and a beta of 1.66. Energy Transfer LP has a 52 week low of $13.11 and a 52 week high of $19.20.

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 analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business 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 business posted $0.31 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts forecast that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.77%. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ET shares. UBS Group lifted their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Bank of America started coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Royal Bank of Canada increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $20.00.

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.