GraniteShares Advisors LLC Sells 11,223 Shares of Energy Transfer LP (NYSE:ET)

GraniteShares Advisors LLC lowered its position in shares of Energy Transfer LP (NYSE:ET) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,593 shares of the pipeline company’s stock after selling 11,223 shares during the quarter. Energy Transfer makes up about 1.3% of GraniteShares Advisors LLC’s investment portfolio, making the stock its 14th largest position. GraniteShares Advisors LLC’s holdings in Energy Transfer were worth $1,485,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC boosted its position in shares of Energy Transfer by 88.2% during the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after buying an additional 927 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Energy Transfer during the first quarter worth about $25,000. IMA Wealth Inc. boosted its position in shares of Energy Transfer by 100.0% during the second quarter. IMA Wealth Inc. now owns 2,400 shares of the pipeline company’s stock worth $30,000 after buying an additional 1,200 shares during the period. Ronald Blue Trust Inc. acquired a new position in shares of Energy Transfer during the third quarter worth about $34,000. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new position in Energy Transfer during the third quarter valued at approximately $35,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Down 1.0 %

ET traded down $0.15 during midday trading on Tuesday, reaching $15.08. 22,001,758 shares of the company were exchanged, compared to its average volume of 12,463,116. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10. The company’s fifty day moving average price is $15.08 and its 200 day moving average price is $14.20. The company has a market cap of $50.81 billion, a price-to-earnings ratio of 13.87 and a beta of 1.64. Energy Transfer LP has a one year low of $12.18 and a one year high of $16.04.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The firm had revenue of $20.53 billion during the quarter, compared to analyst estimates of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. As a group, analysts expect that Energy Transfer LP will post 1.44 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 8.36%. The ex-dividend date of this dividend was Tuesday, February 6th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. Energy Transfer’s payout ratio is presently 115.60%.

Analyst Ratings Changes

Several research analysts recently commented on ET shares. Citigroup increased their price target on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. UBS Group dropped their price objective on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.57.

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.