Rollins Financial Advisors LLC Has $1.24 Million Stake in Energy Transfer LP $ET

Rollins Financial Advisors LLC decreased its holdings in shares of Energy Transfer LP (NYSE:ET) by 54.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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.

Other institutional investors have also recently bought and sold shares of the company. Financial Life Planners acquired a new position in Energy Transfer during the third quarter worth about $34,000. Core Alternative Capital acquired a new position in Energy Transfer during the third quarter worth about $46,000. Global Wealth Strategies & Associates raised its stake in Energy Transfer by 196.4% during the fourth quarter. Global Wealth Strategies & Associates now owns 2,964 shares of the pipeline company’s stock worth $49,000 after acquiring an additional 1,964 shares in the last quarter. Golden State Wealth Management LLC raised its stake in Energy Transfer by 38.9% during the third quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock worth $50,000 after acquiring an additional 817 shares in the last quarter. Finally, Clearstead Trust LLC acquired a new position in Energy Transfer during the third quarter worth about $50,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Raymond James Financial reissued a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday. Jefferies Financial Group reaffirmed a “hold” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Truist Financial started coverage on Energy Transfer in a research note on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $22.50.

Energy Transfer Stock Performance

Energy Transfer stock opened at $20.00 on Wednesday. The business has a 50 day moving average of $19.12 and a 200-day moving average of $17.88. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $20.67. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. The company has a market capitalization 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) last announced its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The company had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. During the same quarter in the previous year, the company earned $0.36 earnings per share. The business’s revenue was up 32.1% on a year-over-year basis. On average, equities research analysts predict that Energy Transfer LP will post 1.47 earnings per share for the current year.

Energy Transfer Increases Dividend

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

Energy Transfer Company Profile

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.