Pekin Hardy Strauss Inc. Lowers Position in Energy Transfer LP (NYSE:ET)

Pekin Hardy Strauss Inc. cut its holdings in shares of Energy Transfer LP (NYSE:ET) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 462,162 shares of the pipeline company’s stock after selling 6,289 shares during the quarter. Energy Transfer comprises approximately 1.1% of Pekin Hardy Strauss Inc.’s investment portfolio, making the stock its 12th biggest position. Pekin Hardy Strauss Inc.’s holdings in Energy Transfer were worth $9,054,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Stonegate Investment Group LLC lifted its stake in Energy Transfer by 1.4% during the 4th quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock worth $672,000 after acquiring an additional 482 shares in the last quarter. Private Client Services LLC lifted its stake in Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after acquiring an additional 511 shares in the last quarter. Wealthspire Advisors LLC lifted its stake in Energy Transfer by 0.4% during the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock worth $2,551,000 after acquiring an additional 535 shares in the last quarter. Daymark Wealth Partners LLC lifted its stake in Energy Transfer by 0.3% during the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock worth $3,148,000 after acquiring an additional 547 shares in the last quarter. Finally, Platform Technology Partners lifted its stake in Energy Transfer by 0.8% during the 4th quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company’s stock worth $1,318,000 after acquiring an additional 553 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Energy Transfer Trading Down 2.7 %

ET opened at $19.40 on Friday. Energy Transfer LP has a one year low of $14.52 and a one year high of $21.45. The company has a market cap of $66.55 billion, a P/E ratio of 15.15, a PEG ratio of 0.64 and a beta of 1.69. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The business’s 50-day simple moving average is $19.87 and its 200-day simple moving average is $17.91.

Energy Transfer (NYSE:ET) last released its quarterly earnings data 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%. As a group, equities research analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

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