Rollins Financial Advisors LLC Sells 91,037 Shares of Energy Transfer LP $ET

by · The Cerbat Gem

Rollins Financial Advisors LLC trimmed its holdings in shares of Energy Transfer LP (NYSE:ET – Free Report) by 54.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 75,056 shares of the pipeline company’s stock after selling 91,037 shares during the quarter. Rollins Financial Advisors LLC’s holdings in Energy Transfer were worth $1,238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Alps Advisors Inc. boosted its holdings in shares of Energy Transfer by 4.5% during the 3rd quarter. Alps Advisors Inc. now owns 77,651,021 shares of the pipeline company’s stock worth $1,332,492,000 after buying an additional 3,366,734 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Energy Transfer by 3.2% during the 3rd quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock worth $992,923,000 after buying an additional 1,773,042 shares in the last quarter. Energy Income Partners LLC boosted its holdings in shares of Energy Transfer by 1.4% during the 3rd quarter. Energy Income Partners LLC now owns 23,351,183 shares of the pipeline company’s stock worth $400,706,000 after buying an additional 326,653 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Energy Transfer by 2.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,898,420 shares of the pipeline company’s stock worth $375,777,000 after buying an additional 544,944 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Energy Transfer during the 3rd quarter worth approximately $264,309,000. 38.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on ET. JPMorgan Chase & Co. increased their price target on Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday. Jefferies Financial Group reiterated a “hold” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Truist Financial began coverage on Energy Transfer in a report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 target price on the stock. Stifel Nicolaus increased their target price on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $22.50.

Check Out Our Latest Analysis on ET

Energy Transfer Price Performance

Shares of ET opened at $20.00 on Wednesday. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $20.67. The business’s fifty day moving average is $19.12 and its 200 day moving average is $17.88. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The stock has a market cap of $68.81 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.10 and a beta of 0.57.

Energy Transfer (NYSE:ET – Get Free Report) last issued its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The firm had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.Energy Transfer’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. Sell-side analysts anticipate that Energy Transfer LP will post 1.47 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Friday, May 8th will be given a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend is Friday, May 8th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is currently 112.50%.

Energy Transfer Company Profile

(Free Report)

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.

See Also

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