PSI Advisors LLC Sells 9,346 Shares of Energy Transfer LP (NYSE:ET)

PSI Advisors LLC lessened its position in Energy Transfer LP (NYSE:ET) by 3.4% during the fourth quarter, Holdings Channel reports. The fund owned 262,219 shares of the pipeline company’s stock after selling 9,346 shares during the period. Energy Transfer comprises 1.5% of PSI Advisors LLC’s holdings, making the stock its 17th biggest holding. PSI Advisors LLC’s holdings in Energy Transfer were worth $5,137,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Princeton Global Asset Management LLC lifted its holdings in shares of 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 worth $26,000 after acquiring an additional 650 shares during the last quarter. Assetmark Inc. lifted its stake in Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Energy Transfer during the fourth quarter valued at about $29,000. HWG Holdings LP purchased a new stake in Energy Transfer during the second quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC grew its stake in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after buying an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Up 0.2 %

Shares of ET opened at $19.45 on Tuesday. Energy Transfer LP has a 1-year low of $13.60 and a 1-year high of $20.02. The firm has a market capitalization of $66.60 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 0.62 and a beta of 1.70. The firm’s 50-day moving average price is $18.79 and its 200-day moving average price is $17.09. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 EPS. Sell-side analysts anticipate that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently disclosed 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. This represents a $1.29 annualized dividend and a yield of 6.63%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ET shares. Barclays increased their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday. Royal Bank of Canada increased their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. UBS Group lifted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Bank of America assumed coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer 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.