Anthracite Investment Company Inc. Sells 31,884 Shares of Energy Transfer LP (NYSE:ET)

Anthracite Investment Company Inc. cut its position in shares of Energy Transfer LP (NYSE:ET) by 14.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 182,000 shares of the pipeline company’s stock after selling 31,884 shares during the period. Energy Transfer comprises 1.2% of Anthracite Investment Company Inc.’s portfolio, making the stock its 19th biggest holding. Anthracite Investment Company Inc.’s holdings in Energy Transfer were worth $3,565,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mountain Hill Investment Partners Corp. bought a new position in Energy Transfer in the fourth quarter valued at approximately $25,000. GAMMA Investing LLC bought a new position in shares of Energy Transfer in the fourth quarter valued at $29,000. United Community Bank bought a new position in shares of Energy Transfer in the fourth quarter valued at $35,000. Financial Life Planners bought a new stake in Energy Transfer during the fourth quarter worth $37,000. Finally, Tortoise Investment Management LLC grew its position in shares of Energy Transfer by 111.1% in the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after acquiring an additional 1,000 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ET has been the subject of several research analyst reports. The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Morgan Stanley raised their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wells Fargo & Company lifted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Stifel Nicolaus boosted their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Stock Down 0.1 %

Energy Transfer stock opened at $18.87 on Wednesday. The firm has a 50 day moving average price of $19.54 and a two-hundred day moving average price of $18.33. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a 52-week low of $14.90 and a 52-week high of $21.45. The firm has a market cap of $64.75 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 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%. Equities analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date was Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 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.