TRUE Private Wealth Advisors Lowers Stock Position in Energy Transfer LP (NYSE:ET)

TRUE Private Wealth Advisors cut its holdings in shares of Energy Transfer LP (NYSE:ET) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,869 shares of the pipeline company’s stock after selling 1,140 shares during the period. TRUE Private Wealth Advisors’ holdings in Energy Transfer were worth $150,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Moneta Group Investment Advisors LLC boosted its position in shares of Energy Transfer by 109,332.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 145,943,387 shares of the pipeline company’s stock worth $1,732,348,000 after purchasing an additional 145,810,023 shares in the last quarter. Morgan Stanley raised its stake in shares of Energy Transfer by 20.9% during the 4th quarter. Morgan Stanley now owns 76,339,168 shares of the pipeline company’s stock worth $906,146,000 after buying an additional 13,220,435 shares during the last quarter. Alps Advisors Inc. raised its stake in shares of Energy Transfer by 14.5% during the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after buying an additional 9,341,798 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Energy Transfer by 38.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after buying an additional 7,097,074 shares during the last quarter. Finally, UBS Group AG raised its stake in shares of Energy Transfer by 3.9% during the 3rd quarter. UBS Group AG now owns 25,274,342 shares of the pipeline company’s stock worth $354,599,000 after buying an additional 953,251 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Up 1.9 %

ET opened at $15.53 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The stock has a market capitalization of $52.31 billion, a price-to-earnings ratio of 14.24 and a beta of 1.64. The business has a 50-day moving average of $15.16 and a two-hundred day moving average of $14.23. Energy Transfer LP has a 12 month low of $12.18 and a 12 month high of $16.04.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.29 by $0.08. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The company had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. During the same quarter in the previous year, the business earned $0.34 EPS. The firm’s revenue was up .2% on a year-over-year basis. On average, research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were issued a dividend of $0.315 per share. The ex-dividend date was Tuesday, February 6th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 8.12%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.31. Energy Transfer’s payout ratio is presently 115.60%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ET. Citigroup lifted their price target on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. UBS Group cut their price target on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Finally, Mizuho reaffirmed a “buy” rating and set a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

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.