IFG Advisory LLC Sells 5,000 Shares of Energy Transfer LP (NYSE:ET)

IFG Advisory LLC cut its stake in shares of Energy Transfer LP (NYSE:ET) by 9.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,299 shares of the pipeline company’s stock after selling 5,000 shares during the quarter. IFG Advisory LLC’s holdings in Energy Transfer were worth $639,000 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 the stock. Moneta Group Investment Advisors LLC boosted its holdings in Energy Transfer by 109,332.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 145,943,387 shares of the pipeline company’s stock worth $1,732,348,000 after purchasing an additional 145,810,023 shares during the last quarter. Morgan Stanley lifted its stake in Energy Transfer by 20.9% during the fourth quarter. Morgan Stanley now owns 76,339,168 shares of the pipeline company’s stock worth $906,146,000 after purchasing an additional 13,220,435 shares during the last quarter. Alps Advisors Inc. increased its stake in shares of Energy Transfer by 14.5% in the third quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after buying an additional 9,341,798 shares during the period. Nomura Holdings Inc. bought a new stake in Energy Transfer during the 3rd quarter valued at $42,932,000. Finally, Barclays PLC boosted its position in Energy Transfer by 31.1% during the 3rd quarter. Barclays PLC now owns 12,378,222 shares of the pipeline company’s stock valued at $173,666,000 after buying an additional 2,933,353 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on ET. UBS Group decreased their price objective on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. Citigroup boosted their price target on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $17.57.

Energy Transfer Trading Up 1.1 %

Shares of ET opened at $15.71 on Friday. Energy Transfer LP has a 1-year low of $12.06 and a 1-year high of $15.81. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. The firm’s 50-day moving average price is $14.68 and its 200-day moving average price is $14.03. The firm has a market capitalization of $52.92 billion, a price-to-earnings ratio of 14.41 and a beta of 1.64.

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, beating 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 for the quarter, compared to analysts’ expectations of $21.46 billion. During the same period in the previous year, the firm posted $0.34 EPS. The business’s revenue was up .2% on a year-over-year basis. Sell-side analysts anticipate that Energy Transfer LP will post 1.44 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were issued a $0.315 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, February 6th. This represents a $1.26 dividend on an annualized basis and a yield of 8.02%. Energy Transfer’s dividend payout ratio is 115.60%.

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.