Ameritas Advisory Services LLC cut its stake in Energy Transfer LP (NYSE:ET – Free Report) by 7.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 73,227 shares of the pipeline company’s stock after selling 5,556 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Energy Transfer were worth $1,435,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Princeton Global Asset Management LLC boosted its holdings in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares during the period. Assetmark Inc. boosted its stake in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares during the period. GAMMA Investing LLC purchased a new position in Energy Transfer during the fourth quarter worth about $29,000. HWG Holdings LP purchased a new position in Energy Transfer during the second quarter worth about $33,000. Finally, Sugarloaf Wealth Management LLC increased its stake in Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several brokerages have recently commented on ET. Wells Fargo & Company boosted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Bank of America started coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. The Goldman Sachs Group raised their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Royal Bank of Canada upped their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Barclays raised their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.
Energy Transfer Stock Up 0.2 %
Shares of NYSE:ET opened at $20.28 on Tuesday. Energy Transfer LP has a 12-month low of $13.60 and a 12-month high of $20.40. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The stock’s 50-day moving average price is $19.02 and its 200-day moving average price is $17.20. The stock has a market capitalization of $69.45 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 0.57 and a beta of 1.70.
Energy Transfer (NYSE:ET – Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 EPS. On average, equities analysts anticipate that Energy Transfer LP will post 1.34 earnings per share for the current year.
Energy Transfer Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.36%. Energy Transfer’s payout ratio is currently 94.85%.
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.
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