IFG Advisory LLC lessened its holdings in shares of Energy Transfer LP (NYSE:ET – Free Report) by 45.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,976 shares of the pipeline company’s stock after selling 32,219 shares during the quarter. IFG Advisory LLC’s holdings in Energy Transfer were worth $626,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Mountain Capital Investment Advisors Inc. increased its position in Energy Transfer by 4.9% during the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock worth $216,000 after buying an additional 560 shares during the last quarter. Marks Wealth LLC increased its position in Energy Transfer by 4.7% during the fourth quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock worth $207,000 after buying an additional 560 shares during the last quarter. SP Asset Management LLC increased its position in Energy Transfer by 2.0% during the fourth quarter. SP Asset Management LLC now owns 30,631 shares of the pipeline company’s stock worth $505,000 after buying an additional 589 shares during the last quarter. Gables Capital Management Inc. increased its position in Energy Transfer by 60.0% during the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after buying an additional 600 shares during the last quarter. Finally, Fiduciary Financial Group LLC boosted its holdings in shares of Energy Transfer by 2.2% during the fourth quarter. Fiduciary Financial Group LLC now owns 28,106 shares of the pipeline company’s stock worth $463,000 after acquiring an additional 607 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.
Energy Transfer Trading Down 1.3%
Shares of ET stock opened at $19.16 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. The stock has a market cap of $65.93 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 1.12 and a beta of 0.57. The stock has a 50 day simple moving average of $19.43 and a 200 day simple moving average of $18.16. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $20.70.
Energy Transfer Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a $0.3375 dividend. This represents a $1.35 annualized dividend and a dividend yield of 7.0%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. Energy Transfer’s dividend payout ratio is presently 112.50%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Barclays restated an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 14th. Wells Fargo & Company boosted their price objective on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Raymond James Financial restated a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Finally, Scotiabank restated an “outperform” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $23.45.
View Our Latest Stock Report on ET
Energy Transfer Profile
Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.
Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.
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