Griffin Asset Management Inc. Sells 628 Shares of Energy Transfer LP (NYSE:ET)

Griffin Asset Management Inc. lessened its stake in shares of Energy Transfer LP (NYSE:ET) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 98,593 shares of the pipeline company’s stock after selling 628 shares during the period. Griffin Asset Management Inc.’s holdings in Energy Transfer were worth $1,931,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. FMR LLC increased its stake in Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after acquiring an additional 10,195,768 shares during the last quarter. Chickasaw Capital Management LLC increased its stake in shares of Energy Transfer by 2.5% during the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock worth $308,319,000 after buying an additional 388,073 shares during the period. Brookfield Corp ON raised its holdings in shares of Energy Transfer by 2.8% in the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock valued at $210,896,000 after purchasing an additional 352,625 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Energy Transfer by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after acquiring an additional 3,106,631 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in Energy Transfer by 45.9% in the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after purchasing an additional 3,013,973 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Energy Transfer Price Performance

Shares of NYSE ET opened at $19.80 on Tuesday. The firm has a 50-day moving average of $19.39 and a two-hundred day moving average of $17.36. The company has a market capitalization of $67.80 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 0.55 and a beta of 1.70. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a twelve month low of $13.79 and a twelve month high of $21.45.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same quarter last year, the company posted $0.31 EPS. Energy Transfer’s revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts expect that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

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.