Energy Transfer LP (NYSE:ET) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its holdings in Energy Transfer LP (NYSE:ET) by 2.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,541,855 shares of the pipeline company’s stock after selling 58,646 shares during the period. Energy Transfer makes up 1.1% of Maryland State Retirement & Pension System’s holdings, making the stock its 15th biggest holding. Maryland State Retirement & Pension System owned approximately 0.07% of Energy Transfer worth $49,795,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. 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 acquiring an additional 1,668 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Energy Transfer by 57.0% in the third quarter. Thrivent Financial for Lutherans now owns 21,671 shares of the pipeline company’s stock worth $348,000 after acquiring an additional 7,870 shares during the last quarter. TrinityPoint Wealth LLC purchased a new position in Energy Transfer in the third quarter worth approximately $392,000. MAI Capital Management lifted its stake in Energy Transfer by 5.9% in the third quarter. MAI Capital Management now owns 698,113 shares of the pipeline company’s stock worth $11,205,000 after acquiring an additional 39,029 shares during the last quarter. Finally, Prospera Financial Services Inc lifted its stake in Energy Transfer by 10.3% in the third quarter. Prospera Financial Services Inc now owns 345,963 shares of the pipeline company’s stock worth $5,553,000 after acquiring an additional 32,250 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Barclays lifted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Royal Bank of Canada boosted their price objective 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. Stifel Nicolaus boosted their price objective 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. Finally, The Goldman Sachs Group boosted their price objective 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. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Price Performance

NYSE:ET opened at $18.67 on Wednesday. The firm has a market cap of $64.04 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. 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 company’s 50-day moving average is $19.62 and its two-hundred day moving average is $18.23. Energy Transfer LP has a 12-month low of $14.90 and a 12-month high of $21.45.

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

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 6.96%. 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. Energy Transfer’s dividend payout ratio is 101.56%.

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.