HBK Sorce Advisory LLC Sells 1,306 Shares of Energy Transfer LP (NYSE:ET)

HBK Sorce Advisory LLC decreased its holdings in Energy Transfer LP (NYSE:ET) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,670 shares of the pipeline company’s stock after selling 1,306 shares during the period. HBK Sorce Advisory LLC’s holdings in Energy Transfer were worth $216,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Mutual Advisors LLC increased its holdings in shares of Energy Transfer by 112.9% in the 4th quarter. Mutual Advisors LLC now owns 146,943 shares of the pipeline company’s stock worth $2,028,000 after purchasing an additional 77,938 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Energy Transfer by 230.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock worth $10,335,000 after purchasing an additional 513,989 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Energy Transfer by 3.3% in the fourth quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company’s stock worth $390,000 after acquiring an additional 903 shares during the period. Fractal Investments LLC grew its holdings in shares of Energy Transfer by 12.9% in the third quarter. Fractal Investments LLC now owns 5,682,061 shares of the pipeline company’s stock worth $79,719,000 after acquiring an additional 647,885 shares during the period. Finally, Cutter & CO Brokerage Inc. grew its holdings in shares of Energy Transfer by 22.5% in the third quarter. Cutter & CO Brokerage Inc. now owns 421,372 shares of the pipeline company’s stock worth $5,912,000 after acquiring an additional 77,352 shares during the period. Institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ET. Citigroup lifted their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. UBS Group cut their price objective on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 15th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.57.

Energy Transfer Price Performance

NYSE ET opened at $15.69 on Friday. The company has a market capitalization of $52.85 billion, a PE ratio of 14.39 and a beta of 1.64. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10. The business’s fifty day moving average is $15.03 and its 200 day moving average is $14.18. Energy Transfer LP has a fifty-two week low of $12.18 and a fifty-two week high of $16.04.

Energy Transfer (NYSE:ET) last released its earnings results 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. The company had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. Energy Transfer’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share. Sell-side analysts predict that Energy Transfer LP will post 1.44 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were given a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 8.03%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, February 6th. Energy Transfer’s payout ratio is presently 115.60%.

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.