Lake Street Private Wealth LLC Sells 8,683 Shares of Energy Transfer LP (NYSE:ET)

Lake Street Private Wealth LLC trimmed its stake in Energy Transfer LP (NYSE:ET) by 19.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,093 shares of the pipeline company’s stock after selling 8,683 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Energy Transfer were worth $707,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $29,000. Princeton Global Asset Management LLC lifted its holdings in shares of Energy Transfer by 65.0% during the third 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 in the last quarter. Assetmark Inc. lifted its holdings in shares of 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 purchasing an additional 1,668 shares in the last quarter. HWG Holdings LP purchased a new stake in shares of Energy Transfer during the second quarter valued at $33,000. Finally, Continuum Advisory LLC increased its holdings in Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after buying an additional 729 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on ET. Royal Bank of Canada lifted 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. Wells Fargo & Company lifted 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 assumed coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. The Goldman Sachs Group raised their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, Barclays upped their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Stock Performance

ET opened at $20.28 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The stock has a market capitalization of $69.45 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 0.57 and a beta of 1.70. The company has a fifty day moving average of $18.96 and a 200 day moving average of $17.16. Energy Transfer LP has a fifty-two week low of $13.60 and a fifty-two week high of $20.40.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The business 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 company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.36%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

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.