Kovack Advisors Inc. Has $1.15 Million Stock Position in Energy Transfer LP (NYSE:ET)

Kovack Advisors Inc. raised its position in Energy Transfer LP (NYSE:ET) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,420 shares of the pipeline company’s stock after purchasing an additional 6,346 shares during the quarter. Kovack Advisors Inc.’s holdings in Energy Transfer were worth $1,151,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC grew its stake in Energy Transfer by 88.2% in the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 927 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 750 shares in the last quarter. BluePath Capital Management LLC purchased a new position in Energy Transfer in the third quarter valued at about $37,000. Community Bank N.A. grew its stake in Energy Transfer by 55.9% in the fourth quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 951 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new stake in shares of Energy Transfer during the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of NYSE ET traded up $0.02 during trading hours on Friday, hitting $15.96. 5,346,991 shares of the company’s stock were exchanged, compared to its average volume of 11,025,037. Energy Transfer LP has a 1-year low of $12.18 and a 1-year high of $16.04. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The stock has a market capitalization of $53.78 billion, a price-to-earnings ratio of 14.64 and a beta of 1.64. The company’s 50-day moving average price is $15.36 and its 200-day moving average price is $14.33.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The business had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. The firm’s revenue was up .2% compared to the same quarter last year. On average, sell-side analysts expect that Energy Transfer LP will post 1.57 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be given a dividend of $0.317 per share. This represents a $1.27 annualized dividend and a dividend yield of 7.94%. The ex-dividend date is Friday, May 10th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 115.60%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ET shares. Mizuho reiterated a “buy” rating and set a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. UBS Group decreased their price target on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Finally, Citigroup upped their price target on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Energy Transfer Company 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.