Sowell Financial Services LLC Reduces Stake in Energy Transfer LP (NYSE:ET)

Sowell Financial Services LLC lessened its stake in shares of Energy Transfer LP (NYSE:ET) by 10.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 347,104 shares of the pipeline company’s stock after selling 39,130 shares during the quarter. Sowell Financial Services LLC’s holdings in Energy Transfer were worth $6,800,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ET. Van ECK Associates Corp increased its holdings in shares of Energy Transfer by 12.3% in the third quarter. Van ECK Associates Corp now owns 156,016 shares of the pipeline company’s stock worth $2,556,000 after purchasing an additional 17,080 shares during the period. Capital Performance Advisors LLP bought a new stake in Energy Transfer during the third quarter valued at approximately $61,000. Leavell Investment Management Inc. purchased a new position in Energy Transfer in the 3rd quarter worth approximately $405,000. CWA Asset Management Group LLC bought a new position in shares of Energy Transfer in the 3rd quarter worth $375,000. Finally, Executive Wealth Management LLC purchased a new stake in shares of Energy Transfer during the 3rd quarter valued at $263,000. 38.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ET has been the subject of several research reports. Stifel Nicolaus upped their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group upped their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Citigroup increased their price objective on Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research report on Tuesday. Finally, Wells Fargo & Company increased their price target 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 research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Trading Down 1.2 %

Shares of ET opened at $17.48 on Friday. The stock has a market capitalization of $59.97 billion, a P/E ratio of 13.66, a PEG ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a twelve month low of $14.87 and a twelve month high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The firm has a fifty day simple moving average of $19.81 and a two-hundred day simple moving average of $18.10.

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

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a dividend of $0.325 per share. The ex-dividend date was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 7.44%. Energy Transfer’s payout ratio is 101.56%.

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.