Energy Transfer LP (NYSE:ET) Shares Sold by Dividend Assets Capital LLC

Dividend Assets Capital LLC decreased its stake in shares of Energy Transfer LP (NYSE:ET) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 814,342 shares of the pipeline company’s stock after selling 8,000 shares during the period. Energy Transfer makes up 3.1% of Dividend Assets Capital LLC’s holdings, making the stock its 7th largest position. Dividend Assets Capital LLC’s holdings in Energy Transfer were worth $15,953,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC acquired a new position in shares of Energy Transfer during the 4th quarter worth about $29,000. Princeton Global Asset Management LLC boosted its position in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares during the period. Assetmark Inc. grew its stake in shares of 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 acquiring an additional 1,668 shares during the last quarter. Financial Life Planners bought a new position in Energy Transfer during the fourth quarter worth $37,000. Finally, Citizens National Bank Trust Department acquired a new position in Energy Transfer during the 4th quarter valued at $39,000. 38.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ET shares. The Goldman Sachs Group raised their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Stifel Nicolaus lifted their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Barclays raised their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada boosted their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Energy Transfer Stock Down 2.7 %

NYSE ET opened at $19.40 on Friday. Energy Transfer LP has a 1-year low of $14.52 and a 1-year high of $21.45. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The stock’s 50 day moving average is $19.87 and its two-hundred day moving average is $17.90. The company has a market capitalization of $66.55 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.64 and a beta of 1.69.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Equities analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a $0.325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.70%. Energy Transfer’s dividend payout ratio is presently 101.56%.

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.