Kovack Advisors Inc. Sells 5,186 Shares of Energy Transfer LP (NYSE:ET)

Kovack Advisors Inc. trimmed its position in Energy Transfer LP (NYSE:ET) by 7.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 62,352 shares of the pipeline company’s stock after selling 5,186 shares during the period. Kovack Advisors Inc.’s holdings in Energy Transfer were worth $1,221,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ET. GAMMA Investing LLC acquired a new stake in Energy Transfer during the fourth quarter valued at approximately $29,000. Princeton Global Asset Management LLC lifted its position in shares of Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the period. Assetmark Inc. boosted its stake 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 in the last quarter. Financial Life Planners bought a new stake in Energy Transfer in the fourth quarter valued at $37,000. Finally, Citizens National Bank Trust Department acquired a new position in Energy Transfer during the fourth quarter worth $39,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Down 1.1 %

NYSE ET opened at $18.94 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a 52 week low of $14.52 and a 52 week high of $21.45. The stock has a market capitalization of $65.00 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. The stock has a fifty day moving average of $19.91 and a 200-day moving average of $17.99.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a $0.325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 6.86%. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio is currently 101.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Citigroup boosted their price target on shares of Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday. The Goldman Sachs Group raised their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Barclays boosted their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Royal Bank of Canada raised their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.55.

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.