Cullen Capital Management LLC Sells 86,470 Shares of Energy Transfer LP (NYSE:ET)

Cullen Capital Management LLC lowered its position in shares of Energy Transfer LP (NYSE:ETFree Report) by 19.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 349,149 shares of the pipeline company’s stock after selling 86,470 shares during the period. Cullen Capital Management LLC’s holdings in Energy Transfer were worth $4,818,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ET. Alps Advisors Inc. grew its position in shares of Energy Transfer by 14.5% in the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock valued at $1,033,541,000 after buying an additional 9,341,798 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Energy Transfer by 38.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock valued at $353,576,000 after buying an additional 7,097,074 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Energy Transfer by 18.5% in the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after buying an additional 3,976,676 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Energy Transfer by 1,447.6% in the 4th quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock valued at $518,460,000 after purchasing an additional 3,514,195 shares during the period. Finally, UBS Group AG lifted its stake in shares of Energy Transfer by 13.3% in the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock valued at $395,270,000 after purchasing an additional 3,368,427 shares during the period. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

ET has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group upped their price target on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Mizuho reissued a “buy” rating and issued a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. Stifel Nicolaus increased their price objective on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Citigroup increased their price objective 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 research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.86.

Check Out Our Latest Stock Report on ET

Energy Transfer Stock Performance

ET stock opened at $15.70 on Tuesday. The firm has a market cap of $52.91 billion, a PE ratio of 14.40, a P/E/G ratio of 0.42 and a beta of 1.63. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The business has a 50 day moving average of $15.72 and a 200-day moving average of $14.82. Energy Transfer LP has a 12-month low of $12.46 and a 12-month high of $16.40.

Energy Transfer (NYSE:ETGet Free Report) last released its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). The business had revenue of $21.63 billion during the quarter, compared to the consensus estimate of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business’s revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 earnings per share. As a group, sell-side analysts expect that Energy Transfer LP will post 1.45 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were issued a dividend of $0.317 per share. This represents a $1.27 annualized dividend and a yield of 8.08%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, May 10th. Energy Transfer’s dividend payout ratio is 116.51%.

Energy Transfer Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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