Goldentree Asset Management LP Has $7.14 Million Position in Energy Transfer LP $ET

Goldentree Asset Management LP lessened its stake in Energy Transfer LP (NYSE:ET) by 24.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 415,993 shares of the pipeline company’s stock after selling 132,727 shares during the period. Energy Transfer comprises about 0.6% of Goldentree Asset Management LP’s holdings, making the stock its 21st biggest position. Goldentree Asset Management LP’s holdings in Energy Transfer were worth $7,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in Energy Transfer in the 3rd quarter valued at approximately $34,000. HHM Wealth Advisors LLC lifted its position in shares of Energy Transfer by 54.4% in the 2nd quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 800 shares during the period. Core Alternative Capital acquired a new stake in shares of Energy Transfer during the 3rd quarter worth approximately $46,000. FSC Wealth Advisors LLC bought a new stake in shares of Energy Transfer during the second quarter valued at approximately $50,000. Finally, Golden State Wealth Management LLC increased its position in shares of Energy Transfer by 38.9% during the third quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock valued at $50,000 after purchasing an additional 817 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ET shares. Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a research report on Monday, December 15th. Morgan Stanley boosted their price target on shares of Energy Transfer from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, March 10th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a report on Friday, January 16th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Energy Transfer in a research report on Wednesday, February 18th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.60.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $18.72 on Thursday. The stock has a market capitalization of $64.39 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 1.04 and a beta of 0.63. The firm’s 50-day moving average price is $18.28 and its two-hundred day moving average price is $17.32. The company has a current ratio of 1.22, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $19.30.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). The business had revenue of $25.32 billion during the quarter, compared to analyst estimates of $23.56 billion. Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The firm’s revenue was up 29.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.29 earnings per share. On average, equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were given a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 7.2%. The ex-dividend date was Friday, February 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is presently 110.74%.

Energy Transfer Company 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.