Cascade Investment Group Inc. Reduces Holdings in Energy Transfer LP (NYSE:ET)

Cascade Investment Group Inc. lowered its stake in Energy Transfer LP (NYSE:ET) by 1.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 90,975 shares of the pipeline company’s stock after selling 1,186 shares during the quarter. Energy Transfer makes up about 1.3% of Cascade Investment Group Inc.’s holdings, making the stock its 18th biggest position. Cascade Investment Group Inc.’s holdings in Energy Transfer were worth $1,782,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer in the fourth quarter valued at $29,000. Princeton Global Asset Management LLC raised its stake in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares during the last quarter. Assetmark Inc. lifted its holdings in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares in the last quarter. HWG Holdings LP acquired a new stake in shares of Energy Transfer during the 2nd quarter worth about $33,000. Finally, Continuum Advisory LLC grew its holdings in shares of Energy Transfer by 44.8% during the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after buying an additional 729 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Up 0.2 %

NYSE ET opened at $20.28 on Monday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. Energy Transfer LP has a one year low of $13.60 and a one year high of $20.40. The company’s 50 day moving average price is $19.02 and its 200 day moving average price is $17.19. The firm has a market capitalization of $69.45 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 0.57 and a beta of 1.70.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the previous year, the business posted $0.31 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, sell-side analysts predict that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.36%. Energy Transfer’s payout ratio is currently 94.85%.

Wall Street Analysts Forecast Growth

ET has been the topic of several recent analyst reports. Barclays upped their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Royal Bank of Canada upped their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company raised their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Bank of America assumed coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus price target of $20.82.

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.